Victory Capital Management Inc. Has $289,000 Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Victory Capital Management Inc. trimmed its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 53.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,049 shares of the company’s stock after selling 8,036 shares during the quarter. Victory Capital Management Inc.’s holdings in Rhythm Pharmaceuticals were worth $289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Perceptive Advisors LLC raised its holdings in Rhythm Pharmaceuticals by 465.6% in the 4th quarter. Perceptive Advisors LLC now owns 2,154,110 shares of the company’s stock valued at $99,024,000 after buying an additional 1,773,282 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Rhythm Pharmaceuticals by 381.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 730,643 shares of the company’s stock worth $31,659,000 after purchasing an additional 578,800 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Rhythm Pharmaceuticals by 116.1% in the first quarter. Canada Pension Plan Investment Board now owns 577,000 shares of the company’s stock worth $25,001,000 after purchasing an additional 310,000 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth $12,477,000. Finally, Nisa Investment Advisors LLC increased its holdings in Rhythm Pharmaceuticals by 157.7% in the second quarter. Nisa Investment Advisors LLC now owns 374,347 shares of the company’s stock valued at $15,371,000 after purchasing an additional 229,056 shares during the period.

Analysts Set New Price Targets

Several research analysts have commented on the company. JMP Securities began coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They set an “outperform” rating and a $64.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 7th. Finally, HC Wainwright started coverage on Rhythm Pharmaceuticals in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.88.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, Director Jennifer L. Good sold 31,751 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $157,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Joseph Shulman sold 10,468 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $53.00, for a total transaction of $554,804.00. Following the completion of the sale, the insider now directly owns 30 shares of the company’s stock, valued at approximately $1,590. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer L. Good sold 31,751 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total value of $1,663,752.40. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at $157,200. The disclosure for this sale can be found here. Insiders have sold a total of 127,033 shares of company stock worth $6,214,392 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.

Rhythm Pharmaceuticals Stock Down 3.3 %

Rhythm Pharmaceuticals stock opened at $51.06 on Tuesday. The firm has a 50 day moving average price of $48.12 and a 200-day moving average price of $43.25. Rhythm Pharmaceuticals, Inc. has a twelve month low of $20.97 and a twelve month high of $55.64. The company has a market capitalization of $3.11 billion, a P/E ratio of -11.03 and a beta of 2.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.16. The business had revenue of $29.08 million for the quarter, compared to analysts’ expectations of $28.79 million. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The firm’s quarterly revenue was up 51.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.82) EPS. Equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS 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.