Rhumbline Advisers Has $3.41 Million Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Rhumbline Advisers boosted its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 8.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,063 shares of the company’s stock after buying an additional 6,339 shares during the period. Rhumbline Advisers owned approximately 0.14% of Rhythm Pharmaceuticals worth $3,411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in Rhythm Pharmaceuticals by 32.8% in the 2nd quarter. Principal Financial Group Inc. now owns 9,532 shares of the company’s stock worth $391,000 after purchasing an additional 2,352 shares during the last quarter. Bank of New York Mellon Corp increased its position in Rhythm Pharmaceuticals by 14.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 191,871 shares of the company’s stock worth $7,878,000 after purchasing an additional 24,033 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Rhythm Pharmaceuticals by 157.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 374,347 shares of the company’s stock worth $15,371,000 after purchasing an additional 229,056 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Rhythm Pharmaceuticals by 10.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 96,378 shares of the company’s stock worth $3,957,000 after purchasing an additional 9,411 shares during the last quarter. Finally, ORG Partners LLC acquired a new position in Rhythm Pharmaceuticals in the 2nd quarter worth about $51,000.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM stock opened at $53.17 on Wednesday. The stock’s 50 day simple moving average is $47.73 and its 200 day simple moving average is $42.92. Rhythm Pharmaceuticals, Inc. has a twelve month low of $20.97 and a twelve month high of $54.85. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -11.48 and a beta of 2.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.16. The business had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.79 million. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The firm’s revenue was up 51.3% compared to the same quarter last year. During the same period last year, the business earned ($0.82) EPS. On average, analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS for the current fiscal year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 17,501 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $49.65, for a total value of $868,924.65. Following the sale, the director now owns 3,000 shares of the company’s stock, valued at approximately $148,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Lynn A. Tetrault sold 17,501 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $49.65, for a total transaction of $868,924.65. Following the sale, the director now owns 3,000 shares of the company’s stock, valued at approximately $148,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pamela J. Cramer sold 4,099 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $50.03, for a total value of $205,072.97. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $675,405. The disclosure for this sale can be found here. Insiders have sold 95,282 shares of company stock valued at $4,550,639 in the last 90 days. 5.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RYTM. JMP Securities began coverage on Rhythm Pharmaceuticals in a research report on Tuesday. They issued an “outperform” rating and a $64.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

About Rhythm Pharmaceuticals

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.