Harbor Capital Advisors Inc. Has $3.76 Million Position in Rhythm Pharmaceuticals, Inc. $RYTM

Harbor Capital Advisors Inc. trimmed its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 57.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,205 shares of the company’s stock after selling 49,341 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.06% of Rhythm Pharmaceuticals worth $3,757,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RYTM. Rhumbline Advisers increased its holdings in shares of Rhythm Pharmaceuticals by 3.6% during the first quarter. Rhumbline Advisers now owns 85,719 shares of the company’s stock worth $4,541,000 after buying an additional 2,988 shares in the last quarter. Siren L.L.C. bought a new stake in Rhythm Pharmaceuticals during the 1st quarter worth $14,701,000. Voleon Capital Management LP acquired a new position in Rhythm Pharmaceuticals in the 1st quarter worth about $732,000. Intech Investment Management LLC raised its position in Rhythm Pharmaceuticals by 20.7% in the first quarter. Intech Investment Management LLC now owns 33,893 shares of the company’s stock valued at $1,795,000 after purchasing an additional 5,801 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in Rhythm Pharmaceuticals by 44.9% in the first quarter. Advisors Asset Management Inc. now owns 10,250 shares of the company’s stock valued at $543,000 after purchasing an additional 3,176 shares during the last quarter.

Insider Activity

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 9,748 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $115.24, for a total transaction of $1,123,359.52. Following the transaction, the insider directly owned 8,509 shares in the company, valued at approximately $980,577.16. This represents a 53.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pamela J. Cramer sold 3,350 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $111.00, for a total transaction of $371,850.00. Following the sale, the insider directly owned 20,814 shares of the company’s stock, valued at approximately $2,310,354. This trade represents a 13.86% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 30,350 shares of company stock worth $3,436,340. 6.10% of the stock is owned by corporate insiders.

Rhythm Pharmaceuticals Stock Down 0.0%

RYTM opened at $112.35 on Thursday. Rhythm Pharmaceuticals, Inc. has a twelve month low of $45.90 and a twelve month high of $122.20. The company has a fifty day moving average of $106.99 and a 200-day moving average of $94.97. The stock has a market cap of $7.50 billion, a PE ratio of -36.24 and a beta of 1.96.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, November 4th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.10). The firm had revenue of $51.30 million during the quarter, compared to analyst estimates of $50.71 million. Rhythm Pharmaceuticals had a negative net margin of 110.32% and a negative return on equity of 433.21%. Sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RYTM. Citizens Jmp upped their price objective on Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the company a “market outperform” rating in a research note on Friday, December 12th. UBS Group reissued a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, December 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, October 8th. Citigroup reiterated an “outperform” rating on shares of Rhythm Pharmaceuticals in a report on Friday, December 12th. Finally, Guggenheim increased their price objective on Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $126.47.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.