Quantinno Capital Management LP Has $845,000 Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Quantinno Capital Management LP lowered its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 11.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,120 shares of the company’s stock after selling 2,000 shares during the quarter. Quantinno Capital Management LP’s holdings in Rhythm Pharmaceuticals were worth $845,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RYTM. CWM LLC grew its position in Rhythm Pharmaceuticals by 62.6% during the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after purchasing an additional 253 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Rhythm Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after buying an additional 391 shares during the period. ORG Partners LLC purchased a new stake in Rhythm Pharmaceuticals in the 2nd quarter worth about $51,000. ORG Wealth Partners LLC acquired a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth about $63,000. Finally, Quest Partners LLC grew its stake in Rhythm Pharmaceuticals by 513.3% during the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after acquiring an additional 1,391 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently commented on the stock. TD Cowen raised their price target on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. JMP Securities started coverage on shares of Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They set an “outperform” rating and a $64.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $69.00 price target on shares of Rhythm Pharmaceuticals in a research note on Wednesday, December 4th. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Needham & Company LLC boosted their target price on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $63.70.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ RYTM opened at $55.24 on Friday. The business’s 50-day simple moving average is $55.66 and its 200-day simple moving average is $49.32. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -12.76 and a beta of 2.14.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company had revenue of $33.20 million for the quarter, compared to the consensus estimate of $32.52 million. During the same quarter last year, the company posted ($0.76) earnings per share. The company’s revenue for the quarter was up 47.6% compared to the same quarter last year. As a group, equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Joseph Shulman sold 13,281 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $66.44, for a total value of $882,389.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Pamela J. Cramer sold 4,688 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $65.00, for a total value of $304,720.00. Following the sale, the insider now owns 13,500 shares of the company’s stock, valued at approximately $877,500. The trade was a 25.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,581 shares of company stock valued at $7,285,752 in the last quarter. 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.