Northern Trust Corp Has $30.53 Million Stock Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Northern Trust Corp lifted its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 9.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 545,314 shares of the company’s stock after acquiring an additional 46,848 shares during the period. Northern Trust Corp’s holdings in Rhythm Pharmaceuticals were worth $30,527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of RYTM. SRS Capital Advisors Inc. grew its position in Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after acquiring an additional 400 shares during the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter valued at approximately $28,000. SBI Securities Co. Ltd. acquired a new position in Rhythm Pharmaceuticals during the 4th quarter worth approximately $37,000. R Squared Ltd bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at approximately $44,000. Finally, KBC Group NV boosted its position in Rhythm Pharmaceuticals by 78.2% in the fourth quarter. KBC Group NV now owns 2,251 shares of the company’s stock valued at $126,000 after buying an additional 988 shares in the last quarter.

Rhythm Pharmaceuticals Stock Down 5.5 %

RYTM stock opened at $57.37 on Friday. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of -13.25 and a beta of 2.36. The company’s fifty day simple moving average is $56.95 and its 200 day simple moving average is $57.05. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The business had revenue of $37.72 million during the quarter, compared to analyst estimates of $40.43 million. During the same period in the prior year, the firm earned ($2.35) earnings per share. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. Research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, CFO Hunter C. Smith sold 1,296 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $57.51, for a total transaction of $74,532.96. Following the transaction, the chief financial officer now owns 106,295 shares in the company, valued at approximately $6,113,025.45. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jennifer Kayden Lee sold 4,189 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $58.91, for a total value of $246,773.99. Following the completion of the sale, the executive vice president now owns 4,409 shares of the company’s stock, valued at approximately $259,734.19. This represents a 48.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 151,733 shares of company stock valued at $8,492,699. 5.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RYTM has been the subject of a number of research reports. Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They issued a “buy” rating and a $78.00 price target for the company. Canaccord Genuity Group lifted their price target on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, April 8th. Bank of America raised Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Monday, April 7th. Morgan Stanley reissued an “overweight” rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Finally, Wells Fargo & Company upped their price target on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an “overweight” rating in a research report on Monday, April 7th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $75.38.

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.