Swiss National Bank Has $5.05 Million Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Swiss National Bank boosted its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,200 shares of the company’s stock after acquiring an additional 900 shares during the period. Swiss National Bank owned 0.15% of Rhythm Pharmaceuticals worth $5,049,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RYTM. SRS Capital Advisors Inc. increased its position in shares of Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after purchasing an additional 400 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at approximately $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at approximately $37,000. R Squared Ltd acquired a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $44,000. Finally, KBC Group NV raised its position in Rhythm Pharmaceuticals by 78.2% during the fourth quarter. KBC Group NV now owns 2,251 shares of the company’s stock valued at $126,000 after purchasing an additional 988 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RYTM shares. Needham & Company LLC raised their target price on Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Canaccord Genuity Group increased their target price on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Jefferies Financial Group began coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Finally, HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $69.46.

Rhythm Pharmaceuticals Stock Up 3.2 %

NASDAQ RYTM opened at $53.72 on Tuesday. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of -12.41 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58. The stock has a fifty day simple moving average of $55.28 and a 200 day simple moving average of $54.99.

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

Insiders Place Their Bets

In related news, EVP Yann Mazabraud sold 75,000 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 40,370 shares in the company, valued at $2,078,247.60. The trade was a 65.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Hunter C. Smith sold 1,678 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $99,723.54. Following the sale, the chief financial officer now owns 101,186 shares of the company’s stock, valued at approximately $6,013,483.98. The trade was a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,131 shares of company stock worth $5,781,098. 5.60% of the stock is currently owned by insiders.

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.