SBI Securities Co. Ltd. Invests $37,000 in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

SBI Securities Co. Ltd. purchased a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 666 shares of the company’s stock, valued at approximately $37,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in Rhythm Pharmaceuticals by 241.9% in the third quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock valued at $1,707,000 after purchasing an additional 23,054 shares during the period. Victory Capital Management Inc. grew its stake in Rhythm Pharmaceuticals by 158.0% during the 3rd quarter. Victory Capital Management Inc. now owns 18,186 shares of the company’s stock worth $953,000 after purchasing an additional 11,137 shares in the last quarter. Quest Partners LLC grew its stake in Rhythm Pharmaceuticals by 451.6% during the 3rd quarter. Quest Partners LLC now owns 9,167 shares of the company’s stock worth $480,000 after purchasing an additional 7,505 shares in the last quarter. Intech Investment Management LLC acquired a new position in Rhythm Pharmaceuticals during the 3rd quarter worth $649,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Rhythm Pharmaceuticals by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 433,866 shares of the company’s stock worth $22,730,000 after acquiring an additional 5,908 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price objective for the company. HC Wainwright upped their price objective on Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Thursday, February 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.31.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Jennifer Kayden Lee sold 1,815 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $56.39, for a total transaction of $102,347.85. Following the completion of the sale, the executive vice president now directly owns 3,598 shares of the company’s stock, valued at $202,891.22. This represents a 33.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David P. Meeker sold 9,896 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $566,249.12. Following the transaction, the chief executive officer now directly owns 201,281 shares of the company’s stock, valued at approximately $11,517,298.82. This trade represents a 4.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,787 shares of company stock valued at $1,901,443 in the last ninety days. Insiders own 5.60% of the company’s stock.

Rhythm Pharmaceuticals Stock Up 3.1 %

Shares of NASDAQ RYTM opened at $50.06 on Wednesday. The business has a 50-day moving average price of $56.38 and a 200 day moving average price of $54.64. The stock has a market cap of $3.16 billion, a PE ratio of -11.56 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The company had revenue of $41.83 million for the quarter, compared to analysts’ expectations of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current 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.