Teacher Retirement System of Texas Sells 1,182 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Teacher Retirement System of Texas trimmed its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 8.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 12,404 shares of the company’s stock after selling 1,182 shares during the quarter. Teacher Retirement System of Texas’ holdings in Rhythm Pharmaceuticals were worth $657,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Two Sigma Advisers LP lifted its stake in shares of Rhythm Pharmaceuticals by 2.3% in the 4th quarter. Two Sigma Advisers LP now owns 13,100 shares of the company’s stock worth $733,000 after purchasing an additional 300 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Rhythm Pharmaceuticals by 2.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,156 shares of the company’s stock valued at $1,857,000 after acquiring an additional 654 shares during the period. Swiss National Bank grew its position in shares of Rhythm Pharmaceuticals by 1.0% during the 4th quarter. Swiss National Bank now owns 90,200 shares of the company’s stock valued at $5,049,000 after acquiring an additional 900 shares during the period. State of Wyoming purchased a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter worth $61,000. Finally, GF Fund Management CO. LTD. bought a new position in Rhythm Pharmaceuticals in the 4th quarter worth $72,000.

Rhythm Pharmaceuticals Stock Up 0.2%

Shares of RYTM stock opened at $89.36 on Wednesday. The company’s fifty day simple moving average is $65.37 and its two-hundred day simple moving average is $59.75. Rhythm Pharmaceuticals, Inc. has a 52 week low of $40.61 and a 52 week high of $94.80. The stock has a market cap of $5.69 billion, a P/E ratio of -31.80 and a beta of 2.26.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Wednesday, May 7th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.12). The firm had revenue of $37.72 million during the quarter, compared to analysts’ expectations of $40.43 million. Rhythm Pharmaceuticals had a negative return on equity of 739.62% and a negative net margin of 123.26%. Rhythm Pharmaceuticals’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.35) earnings per share. On average, analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on RYTM. Morgan Stanley set a $95.00 price target on Rhythm Pharmaceuticals and gave the company an “overweight” rating in a report on Wednesday, July 9th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Thursday, June 26th. Leerink Partners started coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, July 7th. They set an “outperform” rating and a $88.00 target price on the stock. The Goldman Sachs Group began coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, July 10th. They set a “buy” rating and a $97.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $91.00.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Alastair Garfield sold 1,319 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $64.81, for a total transaction of $85,484.39. Following the sale, the insider owned 3,126 shares of the company’s stock, valued at approximately $202,596.06. The trade was a 29.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Pamela J. Cramer sold 15,572 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $77.13, for a total transaction of $1,201,068.36. Following the completion of the sale, the insider owned 19,209 shares in the company, valued at $1,481,590.17. The trade was a 44.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,673 shares of company stock worth $7,118,510 over the last ninety days. 6.10% of the stock is currently owned by company insiders.

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.