Stifel Financial Corp Has $1.04 Million Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Stifel Financial Corp cut its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 29.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,842 shares of the company’s stock after selling 8,216 shares during the quarter. Stifel Financial Corp’s holdings in Rhythm Pharmaceuticals were worth $1,040,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after acquiring an additional 391 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter worth approximately $63,000. Quest Partners LLC boosted its stake in shares of Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after purchasing an additional 1,391 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Rhythm Pharmaceuticals by 3.5% during the second quarter. The Manufacturers Life Insurance Company now owns 49,291 shares of the company’s stock worth $2,024,000 after buying an additional 1,667 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Rhythm Pharmaceuticals by 32.8% during the second quarter. Principal Financial Group Inc. now owns 9,532 shares of the company’s stock worth $391,000 after buying an additional 2,352 shares during the period.

Rhythm Pharmaceuticals Trading Down 0.1 %

NASDAQ RYTM opened at $56.04 on Tuesday. The company has a market cap of $3.44 billion, a P/E ratio of -12.94 and a beta of 2.14. The company has a fifty day simple moving average of $56.51 and a 200 day simple moving average of $50.25. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. During the same period last year, the company earned ($0.76) earnings per share. The business’s revenue was up 47.6% on a year-over-year basis. Sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.34 EPS for the current year.

Analyst Ratings Changes

RYTM has been the topic of a number of research analyst reports. Bank of America upped their price target on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. The Goldman Sachs Group boosted their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Needham & Company LLC raised their target price on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. HC Wainwright reissued a “buy” rating and issued a $69.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday. Finally, Guggenheim assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $70.00 price objective for the company. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $66.90.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Jennifer Kayden Lee sold 66,861 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the transaction, the executive vice president now directly owns 972 shares in the company, valued at approximately $64,472.76. This trade represents a 98.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Shulman sold 13,281 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $66.44, for a total transaction of $882,389.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,830 shares of company stock worth $5,622,000. Insiders own 5.60% of the company’s stock.

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.