Bellevue Group AG Acquires 2,700 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Bellevue Group AG lifted its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 20.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,700 shares of the company’s stock after buying an additional 2,700 shares during the quarter. Bellevue Group AG’s holdings in Rhythm Pharmaceuticals were worth $823,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RYTM. Harbor Capital Advisors Inc. increased its stake in Rhythm Pharmaceuticals by 52.0% in the second quarter. Harbor Capital Advisors Inc. now owns 34,627 shares of the company’s stock worth $1,422,000 after purchasing an additional 11,846 shares during the period. CWM LLC lifted its holdings in Rhythm Pharmaceuticals by 62.6% during the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after buying an additional 253 shares in the last quarter. SG Americas Securities LLC boosted its position in Rhythm Pharmaceuticals by 348.9% in the 2nd quarter. SG Americas Securities LLC now owns 33,727 shares of the company’s stock valued at $1,385,000 after buying an additional 26,214 shares during the period. ORG Partners LLC bought a new position in Rhythm Pharmaceuticals in the 2nd quarter worth about $51,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Rhythm Pharmaceuticals by 10.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 96,378 shares of the company’s stock worth $3,957,000 after acquiring an additional 9,411 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RYTM shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 price target on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. HC Wainwright reiterated a “buy” rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, November 25th. Bank of America raised their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. TD Cowen lifted their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Needham & Company LLC increased their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $62.30.

Insider Transactions at Rhythm Pharmaceuticals

In other news, Director Lynn A. Tetrault sold 17,501 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $49.65, for a total transaction of $868,924.65. Following the sale, the director now owns 3,000 shares in the company, valued at approximately $148,950. The trade was a 85.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pamela J. Cramer sold 4,099 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $50.03, for a total transaction of $205,072.97. Following the transaction, the insider now owns 13,500 shares in the company, valued at approximately $675,405. This trade represents a 23.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,181 shares of company stock valued at $8,359,750. Corporate insiders own 5.60% of the company’s stock.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock opened at $62.04 on Monday. The company has a market capitalization of $3.81 billion, a PE ratio of -14.33 and a beta of 2.09. The company has a 50-day simple moving average of $54.24 and a two-hundred day simple moving average of $48.05. Rhythm Pharmaceuticals, Inc. has a one year low of $32.22 and a one year high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm had revenue of $33.20 million during the quarter, compared to analyst estimates of $32.52 million. During the same quarter in the previous year, the business posted ($0.76) EPS. Rhythm Pharmaceuticals’s revenue was up 47.6% on a year-over-year basis. On average, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.36 earnings per share for the current fiscal year.

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.