Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 4.6% during the 4th quarter, Holdings Channel reports. The firm owned 9,181 shares of the company’s stock after buying an additional 406 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rhythm Pharmaceuticals were worth $422,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in Rhythm Pharmaceuticals by 91.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,256 shares of the company’s stock valued at $58,000 after buying an additional 600 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Rhythm Pharmaceuticals by 95.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,458 shares of the company’s stock valued at $33,000 after acquiring an additional 713 shares during the last quarter. Whittier Trust Co. purchased a new stake in Rhythm Pharmaceuticals during the 4th quarter worth about $92,000. Allspring Global Investments Holdings LLC increased its position in Rhythm Pharmaceuticals by 253.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,260 shares of the company’s stock worth $52,000 after purchasing an additional 1,620 shares in the last quarter. Finally, Strs Ohio purchased a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $137,000.

Analyst Ratings Changes

Several equities research analysts have issued reports on RYTM shares. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday, April 26th. Wells Fargo & Company dropped their target price on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Finally, The Goldman Sachs Group increased their target price on Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $47.20.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 71,774 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $50.38, for a total value of $3,615,974.12. Following the completion of the sale, the insider now owns 2,686 shares of the company’s stock, valued at $135,320.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Yann Mazabraud sold 1,594 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $51.38, for a total transaction of $81,899.72. Following the sale, the executive vice president now directly owns 7,702 shares in the company, valued at approximately $395,728.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joseph Shulman sold 71,774 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $50.38, for a total value of $3,615,974.12. Following the transaction, the insider now directly owns 2,686 shares in the company, valued at $135,320.68. The disclosure for this sale can be found here. Insiders have sold a total of 172,069 shares of company stock valued at $7,626,355 over the last ninety days. Corporate insiders own 4.70% of the company’s stock.

Rhythm Pharmaceuticals Trading Up 6.8 %

Shares of RYTM opened at $43.76 on Friday. The stock’s fifty day simple moving average is $40.97 and its 200 day simple moving average is $39.35. Rhythm Pharmaceuticals, Inc. has a twelve month low of $15.50 and a twelve month high of $52.57. The firm has a market capitalization of $2.67 billion, a P/E ratio of -13.67 and a beta of 1.94.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.70) earnings per share for the quarter, meeting the consensus estimate of ($0.70). Rhythm Pharmaceuticals had a negative return on equity of 96.02% and a negative net margin of 238.50%. The business had revenue of $24.23 million for the quarter, compared to analyst estimates of $25.38 million. During the same period in the previous year, the company posted ($0.75) EPS. The company’s revenue was up 175.7% compared to the same quarter last year. Sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.02 earnings per share for the current 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.