Rhythm Pharmaceuticals, Inc. $RYTM Shares Sold by KBC Group NV

KBC Group NV lowered its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 24.2% during the second quarter, HoldingsChannel reports. The fund owned 1,707 shares of the company’s stock after selling 544 shares during the period. KBC Group NV’s holdings in Rhythm Pharmaceuticals were worth $108,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP acquired a new position in Rhythm Pharmaceuticals in the first quarter valued at approximately $71,038,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rhythm Pharmaceuticals by 75.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,199,053 shares of the company’s stock valued at $63,515,000 after buying an additional 513,901 shares in the last quarter. Siren L.L.C. acquired a new position in shares of Rhythm Pharmaceuticals in the 1st quarter valued at $14,701,000. Comerica Bank grew its position in shares of Rhythm Pharmaceuticals by 1,330.2% in the 1st quarter. Comerica Bank now owns 244,754 shares of the company’s stock valued at $12,965,000 after buying an additional 227,641 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Rhythm Pharmaceuticals by 972.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 237,998 shares of the company’s stock worth $15,039,000 after acquiring an additional 215,806 shares in the last quarter.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 9,748 shares of Rhythm Pharmaceuticals stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $115.24, for a total value of $1,123,359.52. Following the transaction, the insider directly owned 8,509 shares in the company, valued at $980,577.16. This trade represents a 53.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 27,000 shares of company stock worth $3,064,490 over the last three months. 6.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on RYTM. Wall Street Zen downgraded shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Canaccord Genuity Group boosted their target price on Rhythm Pharmaceuticals from $105.00 to $114.00 and gave the company a “buy” rating in a report on Monday, November 10th. Oppenheimer downgraded Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. HC Wainwright lifted their price target on Rhythm Pharmaceuticals from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, Guggenheim increased their price objective on Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $113.23.

Rhythm Pharmaceuticals Stock Up 1.1%

Shares of RYTM stock opened at $101.74 on Friday. The stock has a market capitalization of $6.79 billion, a PE ratio of -33.80 and a beta of 2.12. Rhythm Pharmaceuticals, Inc. has a 52-week low of $45.90 and a 52-week high of $116.00. The stock’s 50-day moving average price is $102.72 and its 200 day moving average price is $87.24.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). The company had revenue of $51.30 million for the quarter, compared to analyst estimates of $50.71 million. Rhythm Pharmaceuticals had a negative return on equity of 1,831.43% and a negative net margin of 117.13%. Analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Rhythm Pharmaceuticals Company 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.