Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. decreased its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 53.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,264 shares of the company’s stock after selling 8,262 shares during the period. Stratos Wealth Partners LTD.’s holdings in Rhythm Pharmaceuticals were worth $334,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RYTM. UBS Group AG boosted its holdings in shares of Rhythm Pharmaceuticals by 1,401.4% in the 2nd quarter. UBS Group AG now owns 7,507 shares of the company’s stock valued at $31,000 after buying an additional 7,007 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Rhythm Pharmaceuticals by 95.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,458 shares of the company’s stock valued at $33,000 after purchasing an additional 713 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Rhythm Pharmaceuticals in the 1st quarter valued at about $39,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Rhythm Pharmaceuticals by 253.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,260 shares of the company’s stock valued at $52,000 after purchasing an additional 1,620 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $65,000.

Insider Buying and Selling

In related news, insider Joseph Shulman sold 18,235 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $40.34, for a total value of $735,599.90. Following the sale, the insider now directly owns 30 shares of the company’s stock, valued at $1,210.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO David P. Meeker sold 45,494 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $39.22, for a total value of $1,784,274.68. Following the sale, the chief executive officer now directly owns 174,605 shares of the company’s stock, valued at $6,848,008.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Shulman sold 18,235 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $40.34, for a total transaction of $735,599.90. Following the completion of the sale, the insider now directly owns 30 shares in the company, valued at $1,210.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,069 shares of company stock valued at $7,626,355. Insiders own 4.70% of the company’s stock.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock opened at $40.33 on Monday. Rhythm Pharmaceuticals, Inc. has a 12-month low of $15.50 and a 12-month high of $52.57. The stock has a market capitalization of $2.43 billion, a P/E ratio of -12.60 and a beta of 1.90. The firm’s 50-day moving average is $43.66 and its two-hundred day moving average is $37.86.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.70) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.70). Rhythm Pharmaceuticals had a negative net margin of 238.50% and a negative return on equity of 96.02%. The company had revenue of $24.23 million for the quarter, compared to analysts’ expectations of $25.38 million. During the same period last year, the company earned ($0.75) EPS. The firm’s revenue for the quarter was up 175.7% compared to the same quarter last year. As a group, analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RYTM shares. The Goldman Sachs Group increased their price target on shares of Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Morgan Stanley upgraded shares of Rhythm Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $29.00 to $55.00 in a report on Tuesday, December 19th. Wells Fargo & Company raised their target price on shares of Rhythm Pharmaceuticals from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Rhythm Pharmaceuticals in a report on Wednesday, April 10th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $47.40.

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.