Charles Schwab Investment Management Inc. Has $24.65 Million Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Charles Schwab Investment Management Inc. boosted its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,250 shares of the company’s stock after buying an additional 6,384 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.72% of Rhythm Pharmaceuticals worth $24,645,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at $37,000. SRS Capital Advisors Inc. boosted its stake in Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after buying an additional 400 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at $328,000. Cannon Financial Strategists Inc. acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at $560,000. Finally, Principal Financial Group Inc. boosted its stake in Rhythm Pharmaceuticals by 13.2% in the 4th quarter. Principal Financial Group Inc. now owns 36,884 shares of the company’s stock valued at $2,065,000 after buying an additional 4,298 shares in the last quarter.

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 1,281 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $76,129.83. Following the completion of the sale, the insider now owns 2,657 shares in the company, valued at approximately $157,905.51. This represents a 32.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Yann Mazabraud sold 75,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $51.48, for a total value of $3,861,000.00. Following the completion of the sale, the executive vice president now owns 40,370 shares of the company’s stock, valued at $2,078,247.60. This represents a 65.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,787 shares of company stock worth $5,762,443. 5.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Needham & Company LLC boosted their price target on Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday. Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price objective on the stock. Oppenheimer began coverage on Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective on the stock. Stifel Nicolaus began coverage on Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They issued a “buy” rating and a $78.00 price objective on the stock. Finally, Canaccord Genuity Group boosted their price objective on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $69.46.

Rhythm Pharmaceuticals Stock Down 0.1 %

Shares of RYTM opened at $52.29 on Wednesday. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The firm has a market capitalization of $3.31 billion, a PE ratio of -12.08 and a beta of 2.30. The stock’s fifty day simple moving average is $55.51 and its 200-day simple moving average is $54.81.

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