Nisa Investment Advisors LLC Grows Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Nisa Investment Advisors LLC raised its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 91.5% during the fourth quarter, HoldingsChannel reports. The fund owned 1,256 shares of the company’s stock after buying an additional 600 shares during the period. Nisa Investment Advisors LLC’s holdings in Rhythm Pharmaceuticals were worth $58,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of RYTM. Barclays PLC boosted its position in shares of Rhythm Pharmaceuticals by 85.3% during the third quarter. Barclays PLC now owns 241,261 shares of the company’s stock valued at $5,531,000 after buying an additional 111,033 shares during the last quarter. Silverarc Capital Management LLC increased its holdings in Rhythm Pharmaceuticals by 124.3% in the 3rd quarter. Silverarc Capital Management LLC now owns 260,537 shares of the company’s stock worth $5,973,000 after buying an additional 144,369 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Rhythm Pharmaceuticals in the 3rd quarter worth about $1,004,000. Charles Schwab Investment Management Inc. increased its holdings in Rhythm Pharmaceuticals by 9.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 384,748 shares of the company’s stock worth $8,820,000 after buying an additional 34,189 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Rhythm Pharmaceuticals in the 3rd quarter worth about $460,000.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM opened at $38.01 on Monday. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -11.88 and a beta of 1.90. The stock’s 50-day simple moving average is $42.72 and its two-hundred day simple moving average is $38.32. Rhythm Pharmaceuticals, Inc. has a 52-week low of $15.50 and a 52-week high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its 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). The business had revenue of $24.23 million for the quarter, compared to analysts’ expectations of $25.38 million. Rhythm Pharmaceuticals had a negative return on equity of 96.02% and a negative net margin of 238.50%. The business’s revenue for the quarter was up 175.7% on a year-over-year basis. During the same period last year, the firm posted ($0.75) earnings per share. As a group, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 15,515 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $39.22, for a total value of $608,498.30. Following the transaction, the chief financial officer now directly owns 97,939 shares of the company’s stock, valued at $3,841,167.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Joseph Shulman sold 71,774 shares of Rhythm Pharmaceuticals stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $50.38, for a total transaction of $3,615,974.12. Following the transaction, the insider now directly owns 2,686 shares of the company’s stock, valued at approximately $135,320.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Hunter C. Smith sold 15,515 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $39.22, for a total value of $608,498.30. Following the completion of the transaction, the chief financial officer now directly owns 97,939 shares in the company, valued at $3,841,167.58. 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.

Analysts Set New Price Targets

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

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.