Teacher Retirement System of Texas Has $761,000 Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Teacher Retirement System of Texas lifted its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,586 shares of the company’s stock after buying an additional 2,117 shares during the period. Teacher Retirement System of Texas’ holdings in Rhythm Pharmaceuticals were worth $761,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Frazier Life Sciences Management L.P. increased its holdings in Rhythm Pharmaceuticals by 1.9% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock worth $126,624,000 after purchasing an additional 45,648 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Rhythm Pharmaceuticals by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock worth $65,824,000 after purchasing an additional 3,499 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Rhythm Pharmaceuticals by 0.8% in the third quarter. Janus Henderson Group PLC now owns 598,122 shares of the company’s stock valued at $31,335,000 after buying an additional 4,480 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Rhythm Pharmaceuticals by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company’s stock valued at $24,645,000 after buying an additional 6,384 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Rhythm Pharmaceuticals by 11.5% in the 3rd quarter. Franklin Resources Inc. now owns 259,416 shares of the company’s stock valued at $13,033,000 after buying an additional 26,739 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RYTM shares. The Goldman Sachs Group raised their price target on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They issued a “buy” rating and a $78.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, March 24th. Morgan Stanley reiterated an “overweight” rating and issued a $72.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Finally, Needham & Company LLC raised their price objective on Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.46.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, CAO Christopher Paul German sold 635 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70. Following the completion of the sale, the chief accounting officer now directly owns 2,070 shares of the company’s stock, valued at $118,445.40. The trade was a 23.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Shulman sold 1,281 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $76,129.83. Following the completion of the transaction, the insider now directly owns 2,657 shares in the company, valued at approximately $157,905.51. The trade was a 32.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,131 shares of company stock valued at $5,781,098. Company insiders own 5.60% of the company’s stock.

Rhythm Pharmaceuticals Stock Up 2.4 %

Shares of RYTM stock opened at $54.80 on Monday. The firm has a 50 day moving average of $55.25 and a 200-day moving average of $55.07. The company has a market cap of $3.46 billion, a price-to-earnings ratio of -12.66 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 results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The company had revenue of $41.83 million during the quarter, compared to the consensus estimate 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 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.