Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 433,866 shares of the company’s stock after acquiring an additional 5,908 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.71% of Rhythm Pharmaceuticals worth $22,730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Perceptive Advisors LLC boosted its position in shares of Rhythm Pharmaceuticals by 5.4% in the 2nd quarter. Perceptive Advisors LLC now owns 3,446,579 shares of the company’s stock valued at $141,517,000 after purchasing an additional 178,000 shares during the period. Frazier Life Sciences Management L.P. lifted its holdings in Rhythm Pharmaceuticals by 8.3% in the second quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock valued at $97,366,000 after acquiring an additional 181,125 shares during the period. Driehaus Capital Management LLC lifted its stake in shares of Rhythm Pharmaceuticals by 38.2% in the second quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company’s stock valued at $48,548,000 after purchasing an additional 326,865 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Rhythm Pharmaceuticals by 32.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 967,243 shares of the company’s stock worth $39,715,000 after acquiring an additional 236,600 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in Rhythm Pharmaceuticals by 10.0% during the second quarter. National Bank of Canada FI now owns 404,242 shares of the company’s stock worth $17,249,000 after purchasing an additional 36,725 shares in the last quarter.

Rhythm Pharmaceuticals Trading Down 4.2 %

Shares of Rhythm Pharmaceuticals stock opened at $57.82 on Friday. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58. The stock has a market cap of $3.55 billion, a PE ratio of -13.35 and a beta of 2.14. The company’s 50-day moving average price is $54.91 and its two-hundred day moving average price is $48.51.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm had revenue of $33.20 million for the quarter, compared to analysts’ expectations of $32.52 million. During the same quarter last year, the business posted ($0.76) EPS. Rhythm Pharmaceuticals’s revenue was up 47.6% on a year-over-year basis. On average, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Needham & Company LLC raised their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their price target on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday. TD Cowen raised their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. HC Wainwright reaffirmed a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a research report on Wednesday. Finally, JMP Securities assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They set an “outperform” rating and a $64.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.70.

Insider Transactions at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 4,099 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $50.03, for a total transaction of $205,072.97. Following the completion of the sale, the insider now owns 13,500 shares in the company, valued at approximately $675,405. This represents a 23.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lynn A. Tetrault sold 17,501 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $49.65, for a total transaction of $868,924.65. Following the sale, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $148,950. This represents a 85.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,181 shares of company stock valued at $8,359,750 over the last three months. 5.60% of the stock is owned by corporate insiders.

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.