Rafferty Asset Management LLC Sells 14,182 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Rafferty Asset Management LLC cut its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 22.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,394 shares of the company’s stock after selling 14,182 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.08% of Rhythm Pharmaceuticals worth $2,821,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Trust Advisors LP raised its holdings in Rhythm Pharmaceuticals by 67.2% during the fourth quarter. First Trust Advisors LP now owns 118,337 shares of the company’s stock valued at $6,625,000 after acquiring an additional 47,575 shares during the period. Barclays PLC raised its holdings in Rhythm Pharmaceuticals by 79.6% during the third quarter. Barclays PLC now owns 106,397 shares of the company’s stock valued at $5,574,000 after acquiring an additional 47,166 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Rhythm Pharmaceuticals during the fourth quarter valued at about $521,000. KBC Group NV raised its holdings in Rhythm Pharmaceuticals by 78.2% during the fourth quarter. KBC Group NV now owns 2,251 shares of the company’s stock valued at $126,000 after acquiring an additional 988 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in Rhythm Pharmaceuticals during the fourth quarter valued at about $37,000.

Insider Activity

In related news, insider Pamela J. Cramer sold 7,031 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $65.09, for a total value of $457,647.79. Following the transaction, the insider now owns 19,209 shares of the company’s stock, valued at $1,250,313.81. This represents a 26.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Yann Mazabraud sold 6,745 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $65.08, for a total value of $438,964.60. Following the completion of the transaction, the executive vice president now directly owns 37,655 shares in the company, valued at approximately $2,450,587.40. This trade represents a 15.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,639 shares of company stock valued at $8,023,381. 6.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

RYTM has been the topic of a number of recent analyst reports. Needham & Company LLC raised their price target on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Morgan Stanley reiterated an “overweight” rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Wells Fargo & Company boosted their target price on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an “overweight” rating in a research report on Monday, April 7th. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price (up from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Finally, Bank of America upgraded Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Monday, April 7th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rhythm Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $75.38.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ RYTM opened at $61.25 on Tuesday. The business’s 50 day moving average is $57.93 and its two-hundred day moving average is $57.52. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The stock has a market capitalization of $3.90 billion, a P/E ratio of -14.15 and a beta of 2.36.

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

Rhythm Pharmaceuticals Company Profile

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.