The Manufacturers Life Insurance Company Has $4.42 Million Stock Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

The Manufacturers Life Insurance Company trimmed its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 14.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,769 shares of the company’s stock after selling 8,840 shares during the period. The Manufacturers Life Insurance Company’s holdings in Rhythm Pharmaceuticals were worth $4,415,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Rhythm Pharmaceuticals by 73.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 145 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Rhythm Pharmaceuticals by 39.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after acquiring an additional 113 shares in the last quarter. Covestor Ltd increased its holdings in shares of Rhythm Pharmaceuticals by 328.9% during the fourth quarter. Covestor Ltd now owns 579 shares of the company’s stock valued at $62,000 after acquiring an additional 444 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Rhythm Pharmaceuticals by 82.9% during the fourth quarter. Farther Finance Advisors LLC now owns 642 shares of the company’s stock worth $69,000 after purchasing an additional 291 shares during the period.

Insider Transactions at Rhythm Pharmaceuticals

In other news, Director Lynn A. Tetrault sold 37,000 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the completion of the sale, the director directly owned 7,000 shares of the company’s stock, valued at $702,240. This trade represents a 84.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is owned by company insiders.

Rhythm Pharmaceuticals Stock Up 1.3%

RYTM stock opened at $112.10 on Friday. The firm has a market cap of $7.68 billion, a PE ratio of -36.05 and a beta of 1.92. The business has a 50 day moving average of $101.96 and a 200-day moving average of $95.92. Rhythm Pharmaceuticals, Inc. has a 12-month low of $74.50 and a 12-month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.08. The company had revenue of $71.25 million during the quarter, compared to the consensus estimate of $67.66 million. Rhythm Pharmaceuticals had a negative return on equity of 159.87% and a negative net margin of 85.59%.Rhythm Pharmaceuticals’s revenue was up 46.9% on a year-over-year basis. During the same period last year, the business posted ($0.75) earnings per share. On average, research analysts expect that Rhythm Pharmaceuticals, Inc. will post -2.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RYTM shares. National Bank Financial set a $160.00 target price on Rhythm Pharmaceuticals in a report on Wednesday. TD Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Citizens Jmp upped their price objective on shares of Rhythm Pharmaceuticals from $155.00 to $160.00 and gave the stock a “market outperform” rating in a report on Wednesday. Canaccord Genuity Group set a $154.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price objective on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Fifteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.38.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.