Teacher Retirement System of Texas Increases Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Teacher Retirement System of Texas increased its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 18.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,586 shares of the company’s stock after acquiring an additional 2,117 shares during the period. Teacher Retirement System of Texas’ holdings in Rhythm Pharmaceuticals were worth $761,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. SRS Capital Advisors Inc. boosted its position in Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after purchasing an additional 400 shares during the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth $28,000. SBI Securities Co. Ltd. purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth about $37,000. R Squared Ltd bought a new position in Rhythm Pharmaceuticals during the fourth quarter valued at about $44,000. Finally, KBC Group NV increased its holdings in Rhythm Pharmaceuticals by 78.2% during the fourth quarter. KBC Group NV now owns 2,251 shares of the company’s stock worth $126,000 after buying an additional 988 shares during the last quarter.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 75,000 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the completion of the sale, the executive vice president now directly owns 40,370 shares in the company, valued at $2,078,247.60. The trade was a 65.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph Shulman sold 1,281 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $76,129.83. Following the completion of the transaction, the insider now directly owns 2,657 shares of the company’s stock, valued at approximately $157,905.51. This represents a 32.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,131 shares of company stock worth $5,781,098 in the last ninety days. 5.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RYTM has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $70.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, March 24th. The Goldman Sachs Group upped their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. JMP Securities reissued a “market outperform” rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Finally, Canaccord Genuity Group boosted their price objective on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.46.

Rhythm Pharmaceuticals Trading Up 2.4 %

Rhythm Pharmaceuticals stock opened at $54.80 on Monday. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The firm has a market capitalization of $3.46 billion, a PE ratio of -12.66 and a beta of 2.30. The firm’s 50 day simple moving average is $55.25 and its 200 day simple moving average is $55.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The firm had revenue of $41.83 million during the quarter, compared to the consensus estimate of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. Research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

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.