Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,181 shares of the company’s stock after purchasing an additional 406 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rhythm Pharmaceuticals were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 2.9% during the third quarter. Vanguard Group Inc. now owns 3,014,568 shares of the company’s stock valued at $69,109,000 after acquiring an additional 85,139 shares during the last quarter. Polar Capital Holdings Plc raised its stake in Rhythm Pharmaceuticals by 11.1% in the 3rd quarter. Polar Capital Holdings Plc now owns 2,500,000 shares of the company’s stock valued at $57,312,000 after purchasing an additional 250,000 shares during the last quarter. FMR LLC lifted its holdings in Rhythm Pharmaceuticals by 23.8% in the 3rd quarter. FMR LLC now owns 868,474 shares of the company’s stock valued at $19,910,000 after purchasing an additional 166,940 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Rhythm Pharmaceuticals by 9.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 384,748 shares of the company’s stock worth $8,820,000 after purchasing an additional 34,189 shares during the last quarter. Finally, Silverarc Capital Management LLC grew its holdings in shares of Rhythm Pharmaceuticals by 124.3% during the third quarter. Silverarc Capital Management LLC now owns 260,537 shares of the company’s stock worth $5,973,000 after buying an additional 144,369 shares in the last quarter.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 18,235 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $40.34, for a total value of $735,599.90. Following the transaction, the insider now owns 30 shares of the company’s stock, valued at $1,210.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Joseph Shulman sold 18,235 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $40.34, for a total value of $735,599.90. Following the completion of the sale, the insider now owns 30 shares in the company, valued at approximately $1,210.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David P. Meeker sold 45,494 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $39.22, for a total value of $1,784,274.68. Following the transaction, the chief executive officer now owns 174,605 shares in the company, valued at $6,848,008.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,069 shares of company stock worth $7,626,355. 4.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RYTM has been the topic of several research reports. The Goldman Sachs Group raised their price target on shares of Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, April 26th. Finally, Wells Fargo & Company cut their price target on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $47.20.

Rhythm Pharmaceuticals Price Performance

NASDAQ:RYTM opened at $43.76 on Friday. The company’s 50-day moving average is $40.97 and its two-hundred day moving average is $39.35. Rhythm Pharmaceuticals, Inc. has a 1-year low of $15.50 and a 1-year high of $52.57. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of -13.67 and a beta of 1.94.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.70) earnings per share for the quarter, hitting the consensus estimate of ($0.70). Rhythm Pharmaceuticals had a negative return on equity of 96.02% and a negative net margin of 238.50%. The company had revenue of $24.23 million during the quarter, compared to analyst estimates of $25.38 million. During the same period in the prior year, the business posted ($0.75) earnings per share. The firm’s revenue for the quarter was up 175.7% compared to the same quarter last year. As a group, equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.02 earnings per share for the current fiscal year.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.