Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 98.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,285 shares of the company’s stock after selling 64,955 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Rhythm Pharmaceuticals were worth $72,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RYTM. ORG Wealth Partners LLC purchased a new position in shares of Rhythm Pharmaceuticals during the third quarter worth approximately $63,000. Mirae Asset Global Investments Co. Ltd. grew its position in Rhythm Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after purchasing an additional 391 shares during the last quarter. Creative Planning purchased a new position in Rhythm Pharmaceuticals during the 3rd quarter worth $450,000. Quest Partners LLC increased its stake in Rhythm Pharmaceuticals by 451.6% in the third quarter. Quest Partners LLC now owns 9,167 shares of the company’s stock valued at $480,000 after purchasing an additional 7,505 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Rhythm Pharmaceuticals by 64.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,758 shares of the company’s stock valued at $616,000 after buying an additional 4,595 shares during the last quarter.

Insider Activity

In other news, insider Pamela J. Cramer sold 4,688 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $65.00, for a total transaction of $304,720.00. Following the sale, the insider now owns 13,500 shares in the company, valued at $877,500. This trade represents a 25.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer Kayden Lee sold 66,861 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $66.33, for a total value of $4,434,890.13. Following the completion of the transaction, the executive vice president now owns 972 shares of the company’s stock, valued at $64,472.76. The trade was a 98.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,830 shares of company stock worth $5,622,000 over the last three months. 5.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on RYTM. HC Wainwright reissued a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Jefferies Financial Group initiated coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a “buy” rating and a $80.00 target price on the stock. Oppenheimer began coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 target price on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. Finally, Bank of America boosted their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $68.09.

Rhythm Pharmaceuticals Stock Up 3.5 %

NASDAQ:RYTM opened at $59.22 on Friday. The firm’s fifty day simple moving average is $57.45 and its 200-day simple moving average is $52.94. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The stock has a market cap of $3.64 billion, a PE ratio of -13.68 and a beta of 2.16.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. During the same quarter in the previous year, the business posted ($0.76) earnings per share. The firm’s quarterly revenue was up 47.6% compared to the same quarter last year. Equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.33 earnings per share for the current year.

Rhythm Pharmaceuticals 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.