Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Holdings Lifted by National Bank of Canada FI

National Bank of Canada FI raised its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 82.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 239,000 shares of the company’s stock after acquiring an additional 108,000 shares during the quarter. National Bank of Canada FI’s holdings in Rhythm Pharmaceuticals were worth $10,786,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its position in Rhythm Pharmaceuticals by 95.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,458 shares of the company’s stock valued at $33,000 after acquiring an additional 713 shares during the period. AJOVista LLC acquired a new position in shares of Rhythm Pharmaceuticals during the fourth quarter valued at $42,000. Allspring Global Investments Holdings LLC raised its stake in shares of Rhythm Pharmaceuticals by 253.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,260 shares of the company’s stock valued at $52,000 after purchasing an additional 1,620 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Rhythm Pharmaceuticals by 91.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,256 shares of the company’s stock worth $58,000 after purchasing an additional 600 shares during the period. Finally, Whittier Trust Co. bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $92,000.

Wall Street Analyst Weigh In

RYTM has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on shares of Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Bank of America cut Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $49.00 to $42.00 in a report on Wednesday. Canaccord Genuity Group decreased their price target on Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company lowered their price target on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Finally, Needham & Company LLC cut their price objective on Rhythm Pharmaceuticals from $50.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.33.

Insider Activity

In related news, CFO Hunter C. Smith sold 1,209 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $51.38, for a total value of $62,118.42. Following the completion of the transaction, the chief financial officer now owns 80,413 shares of the company’s stock, valued at approximately $4,131,619.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Hunter C. Smith sold 1,209 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $51.38, for a total transaction of $62,118.42. Following the completion of the sale, the chief financial officer now directly owns 80,413 shares in the company, valued at $4,131,619.94. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Yann Mazabraud sold 1,594 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $51.38, for a total transaction of $81,899.72. Following the completion of the transaction, the executive vice president now owns 7,702 shares in the company, valued at approximately $395,728.76. The disclosure for this sale can be found here. Insiders sold a total of 172,069 shares of company stock valued at $7,626,355 over the last three months. Insiders own 4.70% of the company’s stock.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM opened at $38.92 on Thursday. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -12.16 and a beta of 1.94. Rhythm Pharmaceuticals, Inc. has a 1-year low of $15.50 and a 1-year high of $52.57. The company has a 50 day moving average price of $40.68 and a 200 day moving average price of $39.85.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($2.35) EPS for the quarter, missing analysts’ consensus estimates of ($2.34) by ($0.01). The company had revenue of $26.00 million for the quarter, compared to analyst estimates of $26.90 million. Rhythm Pharmaceuticals had a negative net margin of 238.50% and a negative return on equity of 96.02%. Rhythm Pharmaceuticals’s revenue was up 126.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.92) EPS. On average, sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.02 EPS for the current fiscal year.

Rhythm Pharmaceuticals Company 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.