Virtus ETF Advisers LLC grew its stake in shares of Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) by 26.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,938 shares of the company’s stock after buying an additional 2,470 shares during the period. Virtus ETF Advisers LLC’s holdings in Rhythm Pharmaceuticals were worth $263,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace North America L.P. bought a new position in shares of Rhythm Pharmaceuticals in the first quarter worth approximately $33,000. Bank of Montreal Can increased its position in shares of Rhythm Pharmaceuticals by 194,200.0% in the second quarter. Bank of Montreal Can now owns 1,943 shares of the company’s stock worth $43,000 after purchasing an additional 1,942 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Rhythm Pharmaceuticals by 105,433.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,166 shares of the company’s stock worth $87,000 after purchasing an additional 3,163 shares during the last quarter. Tiff Advisory Services Inc. bought a new position in shares of Rhythm Pharmaceuticals in the first quarter worth approximately $217,000. Finally, Marshall Wace LLP increased its position in shares of Rhythm Pharmaceuticals by 540.3% in the first quarter. Marshall Wace LLP now owns 14,715 shares of the company’s stock worth $403,000 after purchasing an additional 12,417 shares during the last quarter. Hedge funds and other institutional investors own 90.58% of the company’s stock.
Shares of Rhythm Pharmaceuticals stock traded up $0.91 during midday trading on Friday, reaching $23.85. 3,084 shares of the company’s stock traded hands, compared to its average volume of 175,121. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.80 and a quick ratio of 7.80. The stock has a 50 day moving average of $20.94 and a 200-day moving average of $24.37. Rhythm Pharmaceuticals Inc has a 12 month low of $18.00 and a 12 month high of $32.62.
RYTM has been the topic of several research analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $34.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, July 29th. LADENBURG THALM/SH SH restated a “buy” rating and issued a $43.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, September 9th. Canaccord Genuity initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Monday, July 8th. They issued a “buy” rating and a $35.00 price objective on the stock. BidaskClub cut shares of Rhythm Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 7th. Finally, Zacks Investment Research lowered Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Rhythm Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $38.80.
Rhythm Pharmaceuticals Profile
Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic disorders that result in life-threatening metabolic disorders. The company's lead product candidate is setmelanotide, a melanocortin-4 receptor agonist peptide, which is in Phase III clinical trials to treat pro-opiomelanocortin (POMC) and leptin receptor deficiency obesity, and Bardet-Biedl and Alström syndrome; and is in Phase II clinical trials for treating POMC heterozygous deficiency obesity and POMC epigenetic disorders.
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