Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lessened its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 12.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,463 shares of the company’s stock after selling 786 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Rhythm Pharmaceuticals were worth $224,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of RYTM. Vanguard Group Inc. increased its stake in shares of Rhythm Pharmaceuticals by 2.4% during the first quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company’s stock valued at $143,169,000 after acquiring an additional 77,208 shares during the period. Perceptive Advisors LLC raised its stake in shares of Rhythm Pharmaceuticals by 465.6% in the 4th quarter. Perceptive Advisors LLC now owns 2,154,110 shares of the company’s stock worth $99,024,000 after buying an additional 1,773,282 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Rhythm Pharmaceuticals by 381.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 730,643 shares of the company’s stock valued at $31,659,000 after buying an additional 578,800 shares during the period. Canada Pension Plan Investment Board boosted its stake in Rhythm Pharmaceuticals by 116.1% during the first quarter. Canada Pension Plan Investment Board now owns 577,000 shares of the company’s stock valued at $25,001,000 after buying an additional 310,000 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in Rhythm Pharmaceuticals by 10.0% during the second quarter. National Bank of Canada FI now owns 404,242 shares of the company’s stock worth $17,249,000 after acquiring an additional 36,725 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. HC Wainwright started coverage on shares of Rhythm Pharmaceuticals in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.00 price target for the company. JMP Securities initiated coverage on shares of Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They set an “outperform” rating and a $64.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price target on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $57.88.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM opened at $51.35 on Friday. Rhythm Pharmaceuticals, Inc. has a 52 week low of $20.97 and a 52 week high of $55.64. The company has a market cap of $3.14 billion, a PE ratio of -11.09 and a beta of 2.07. The firm has a 50 day simple moving average of $48.14 and a 200 day simple moving average of $43.50.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.16. The business had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.79 million. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. Rhythm Pharmaceuticals’s revenue for the quarter was up 51.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.82) earnings per share. On average, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.43 earnings per share for the current year.

Insider Activity

In related news, insider Pamela J. Cramer sold 49,006 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $45.15, for a total transaction of $2,212,620.90. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at $609,525. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 49,006 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $45.15, for a total value of $2,212,620.90. Following the completion of the sale, the insider now owns 13,500 shares in the company, valued at approximately $609,525. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jennifer L. Good sold 31,751 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $157,200. The disclosure for this sale can be found here. Insiders have sold 127,033 shares of company stock worth $6,214,392 in the last 90 days. Company insiders own 5.60% of the company’s stock.

About Rhythm Pharmaceuticals

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.