VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Rhythm Pharmaceuticals, Inc. $RYTM

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,700 shares of the company’s stock, valued at approximately $677,000.

Several other hedge funds and other institutional investors have also bought and sold shares of RYTM. Farther Finance Advisors LLC grew its holdings in Rhythm Pharmaceuticals by 1,110.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock worth $35,000 after acquiring an additional 322 shares during the period. Osaic Holdings Inc. boosted its position in shares of Rhythm Pharmaceuticals by 65.9% during the 2nd quarter. Osaic Holdings Inc. now owns 979 shares of the company’s stock valued at $62,000 after purchasing an additional 389 shares in the last quarter. State of Wyoming acquired a new stake in Rhythm Pharmaceuticals during the second quarter worth approximately $67,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Rhythm Pharmaceuticals by 16.2% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,458 shares of the company’s stock worth $155,000 after purchasing an additional 342 shares in the last quarter. Finally, Bayforest Capital Ltd acquired a new position in Rhythm Pharmaceuticals in the first quarter valued at approximately $166,000.

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Pamela J. Cramer sold 3,350 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $111.00, for a total transaction of $371,850.00. Following the completion of the sale, the insider owned 20,814 shares in the company, valued at approximately $2,310,354. This represents a 13.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph Shulman sold 14,437 shares of the firm’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $112.03, for a total value of $1,617,377.11. Following the transaction, the insider owned 8,509 shares in the company, valued at approximately $953,263.27. This trade represents a 62.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 30,350 shares of company stock worth $3,436,340. 6.10% of the stock is owned by insiders.

Rhythm Pharmaceuticals Price Performance

NASDAQ:RYTM opened at $105.01 on Monday. Rhythm Pharmaceuticals, Inc. has a one year low of $45.90 and a one year high of $122.20. The company has a market cap of $7.01 billion, a PE ratio of -33.87 and a beta of 2.00. The firm has a 50-day moving average of $106.81 and a 200-day moving average of $97.40.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). The company had revenue of $51.30 million for the quarter, compared to analyst estimates of $50.71 million. Rhythm Pharmaceuticals had a negative net margin of 110.32% and a negative return on equity of 433.21%. On average, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RYTM. Citigroup reiterated an “outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, December 12th. Citizens Jmp lifted their price target on shares of Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the company a “market outperform” rating in a research note on Friday, December 12th. Guggenheim upped their price objective on shares of Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Needham & Company LLC raised their target price on Rhythm Pharmaceuticals from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, Oppenheimer downgraded Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $129.79.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.