Teacher Retirement System of Texas Sells 2,382 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Teacher Retirement System of Texas lowered its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTMFree Report) by 18.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,534 shares of the company’s stock after selling 2,382 shares during the period. Teacher Retirement System of Texas’ holdings in Rhythm Pharmaceuticals were worth $484,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Polar Capital Holdings Plc lifted its stake in shares of Rhythm Pharmaceuticals by 11.1% during the 3rd quarter. Polar Capital Holdings Plc now owns 2,500,000 shares of the company’s stock worth $57,312,000 after purchasing an additional 250,000 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Rhythm Pharmaceuticals during the third quarter valued at about $4,757,000. Clearbridge Investments LLC bought a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at about $4,191,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter worth approximately $4,058,000. Finally, FMR LLC raised its stake in shares of Rhythm Pharmaceuticals by 23.8% during the 3rd quarter. FMR LLC now owns 868,474 shares of the company’s stock worth $19,910,000 after acquiring an additional 166,940 shares in the last quarter.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM opened at $36.76 on Monday. The company’s fifty day moving average price is $40.02 and its 200-day moving average price is $41.09. Rhythm Pharmaceuticals, Inc. has a 1-year low of $15.50 and a 1-year high of $52.57. The firm has a market capitalization of $2.24 billion, a PE ratio of -7.94 and a beta of 1.94.

Rhythm Pharmaceuticals (NASDAQ:RYTMGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($2.35) earnings per share for the quarter, missing the consensus estimate of ($2.34) by ($0.01). The firm had revenue of $26.00 million for the quarter, compared to analysts’ expectations of $26.90 million. Rhythm Pharmaceuticals had a negative net margin of 297.91% and a negative return on equity of 179.26%. The firm’s revenue for the quarter was up 126.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.92) EPS. As a group, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS for the current fiscal year.

Analyst Ratings Changes

RYTM has been the topic of several analyst reports. Canaccord Genuity Group cut their price target on shares of Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Needham & Company LLC dropped their target price on Rhythm Pharmaceuticals from $50.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Bank of America cut Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price target for the company from $49.00 to $42.00 in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company dropped their price target on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.33.

View Our Latest Analysis on RYTM

Insider Buying and Selling

In related news, insider Joseph Shulman sold 3,984 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $38.47, for a total value of $153,264.48. Following the transaction, the insider now owns 30 shares in the company, valued at approximately $1,154.10. The sale was disclosed in a filing with the SEC, which is available through this link. In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 16,000 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $39.22, for a total transaction of $627,520.00. Following the completion of the transaction, the executive vice president now owns 24,495 shares in the company, valued at approximately $960,693.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Shulman sold 3,984 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $38.47, for a total value of $153,264.48. Following the completion of the sale, the insider now owns 30 shares in the company, valued at approximately $1,154.10. The disclosure for this sale can be found here. Insiders sold 99,596 shares of company stock valued at $3,924,525 over the last quarter. 5.60% of the stock is currently owned by company insiders.

About Rhythm Pharmaceuticals

(Free Report)

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.

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Institutional Ownership by Quarter for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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