SG Americas Securities LLC Lowers Stock Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

SG Americas Securities LLC reduced its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 40.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,741 shares of the company’s stock after selling 7,813 shares during the period. SG Americas Securities LLC’s holdings in Rhythm Pharmaceuticals were worth $1,257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Rhythm Pharmaceuticals by 4.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,568 shares of the company’s stock worth $259,000 after buying an additional 110 shares during the period. Captrust Financial Advisors boosted its position in shares of Rhythm Pharmaceuticals by 0.7% during the second quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock worth $1,104,000 after buying an additional 114 shares during the period. GAMMA Investing LLC boosted its position in shares of Rhythm Pharmaceuticals by 48.6% during the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock worth $39,000 after buying an additional 118 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Rhythm Pharmaceuticals by 97.2% during the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after buying an additional 141 shares during the period. Finally, Optiver Holding B.V. boosted its position in shares of Rhythm Pharmaceuticals by 65.2% during the third quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock worth $37,000 after buying an additional 144 shares during the period.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 4,385 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $101.26, for a total value of $444,025.10. Following the sale, the chief financial officer directly owned 110,512 shares in the company, valued at $11,190,445.12. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christopher Paul German sold 5,614 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $89.56, for a total value of $502,789.84. Following the completion of the sale, the chief accounting officer owned 160 shares in the company, valued at approximately $14,329.60. This represents a 97.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 27,267 shares of company stock worth $2,719,955. 6.10% of the stock is owned by insiders.

Rhythm Pharmaceuticals Trading Down 0.3%

NASDAQ:RYTM opened at $86.66 on Wednesday. The firm has a market cap of $5.92 billion, a PE ratio of -27.86 and a beta of 2.14. The stock has a fifty day moving average price of $93.92 and a 200 day moving average price of $101.24. Rhythm Pharmaceuticals, Inc. has a 12-month low of $49.86 and a 12-month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.06. Rhythm Pharmaceuticals had a negative return on equity of 266.56% and a negative net margin of 103.57%.The firm had revenue of $57.25 million during the quarter, compared to analyst estimates of $56.16 million. During the same period last year, the business posted ($0.72) earnings per share. Rhythm Pharmaceuticals’s revenue was up 36.9% compared to the same quarter last year. Equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. HC Wainwright lowered their price target on Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. UBS Group reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, January 22nd. Citigroup decreased their target price on Rhythm Pharmaceuticals from $136.00 to $131.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. Finally, The Goldman Sachs Group lifted their target price on Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the company a “buy” rating in a report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.13.

About Rhythm Pharmaceuticals

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.