Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,310,955 shares of the company’s stock after selling 30,380 shares during the period. Federated Hermes Inc.’s holdings in Rhythm Pharmaceuticals were worth $106,235,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Barclays PLC raised its position in shares of Rhythm Pharmaceuticals by 85.3% in the 3rd quarter. Barclays PLC now owns 241,261 shares of the company’s stock valued at $5,531,000 after purchasing an additional 111,033 shares in the last quarter. Silverarc Capital Management LLC raised its position in shares of Rhythm Pharmaceuticals by 124.3% in the 3rd quarter. Silverarc Capital Management LLC now owns 260,537 shares of the company’s stock valued at $5,973,000 after purchasing an additional 144,369 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at approximately $1,004,000. Charles Schwab Investment Management Inc. raised its position in shares of Rhythm Pharmaceuticals by 9.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 384,748 shares of the company’s stock valued at $8,820,000 after purchasing an additional 34,189 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Rhythm Pharmaceuticals during the 3rd quarter valued at approximately $460,000.

Insider Buying and Selling

In related news, CEO David P. Meeker sold 45,494 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $39.22, for a total transaction of $1,784,274.68. Following the completion of the transaction, the chief executive officer now directly owns 174,605 shares in the company, valued at approximately $6,848,008.10. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Yann Mazabraud sold 1,594 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $51.38, for a total value of $81,899.72. Following the completion of the transaction, the executive vice president now owns 7,702 shares of the company’s stock, valued at $395,728.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David P. Meeker sold 45,494 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $39.22, for a total value of $1,784,274.68. Following the completion of the transaction, the chief executive officer now directly owns 174,605 shares of the company’s stock, valued at approximately $6,848,008.10. The disclosure for this sale can be found here. Insiders sold a total of 172,069 shares of company stock worth $7,626,355 in the last three months. 4.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Rhythm Pharmaceuticals in a research report on Wednesday, April 10th. The Goldman Sachs Group upped their price target on Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company dropped their price target on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of “Buy” and an average price target of $47.20.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM opened at $38.11 on Friday. The stock has a fifty day moving average price of $42.98 and a 200 day moving average price of $38.09. Rhythm Pharmaceuticals, Inc. has a 12 month low of $15.50 and a 12 month high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.70) EPS for the quarter, hitting analysts’ consensus estimates of ($0.70). The firm had revenue of $24.23 million during the quarter, compared to the consensus estimate of $25.38 million. Rhythm Pharmaceuticals had a negative return on equity of 96.02% and a negative net margin of 238.50%. The firm’s revenue was up 175.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.75) EPS. On average, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.05 EPS for the current fiscal year.

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.