Corebridge Financial Inc. Has $1.52 Million Stock Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Corebridge Financial Inc. decreased its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 7.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 27,220 shares of the company’s stock after selling 2,054 shares during the period. Corebridge Financial Inc.’s holdings in Rhythm Pharmaceuticals were worth $1,524,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of RYTM. Charles Schwab Investment Management Inc. boosted its holdings in shares of Rhythm Pharmaceuticals by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 433,866 shares of the company’s stock worth $22,730,000 after acquiring an additional 5,908 shares during the period. FMR LLC boosted its stake in Rhythm Pharmaceuticals by 79.7% in the 3rd quarter. FMR LLC now owns 50,295 shares of the company’s stock valued at $2,635,000 after purchasing an additional 22,306 shares during the period. BNP Paribas Financial Markets grew its holdings in Rhythm Pharmaceuticals by 307.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company’s stock valued at $756,000 after buying an additional 10,882 shares in the last quarter. Janus Henderson Group PLC increased its position in Rhythm Pharmaceuticals by 0.8% during the 3rd quarter. Janus Henderson Group PLC now owns 598,122 shares of the company’s stock worth $31,335,000 after buying an additional 4,480 shares during the period. Finally, Castleark Management LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 1.3% during the third quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock worth $1,009,000 after buying an additional 250 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts recently commented on RYTM shares. Jefferies Financial Group started coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target on the stock. Stifel Nicolaus initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They issued a “buy” rating and a $78.00 price target for the company. Morgan Stanley reissued an “overweight” rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Canaccord Genuity Group lifted their price objective on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, The Goldman Sachs Group upped their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $69.46.

Rhythm Pharmaceuticals Trading Up 3.9 %

RYTM stock opened at $51.96 on Thursday. The firm has a 50-day moving average price of $54.96 and a 200-day moving average price of $55.12. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58. The stock has a market capitalization of $3.29 billion, a P/E ratio of -12.00 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). The company had revenue of $41.83 million during 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%. As a group, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 2,215 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $126,742.30. Following the completion of the transaction, the chief financial officer now directly owns 109,929 shares in the company, valued at approximately $6,290,137.38. This represents a 1.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Yann Mazabraud sold 75,000 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the transaction, the executive vice president now directly owns 40,370 shares of the company’s stock, valued at $2,078,247.60. The trade was a 65.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,131 shares of company stock valued at $5,781,098 in the last 90 days. Corporate insiders own 5.60% of the company’s stock.

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.