Handelsbanken Fonder AB Sells 2,300 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Handelsbanken Fonder AB lowered its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 11.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,021 shares of the company’s stock after selling 2,300 shares during the period. Handelsbanken Fonder AB’s holdings in Rhythm Pharmaceuticals were worth $953,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Frazier Life Sciences Management L.P. lifted its stake in Rhythm Pharmaceuticals by 1.9% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock valued at $126,624,000 after acquiring an additional 45,648 shares during the period. Geode Capital Management LLC lifted its stake in Rhythm Pharmaceuticals by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock valued at $65,824,000 after acquiring an additional 3,499 shares during the period. Alkeon Capital Management LLC lifted its stake in Rhythm Pharmaceuticals by 16.8% during the 3rd quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock valued at $61,176,000 after acquiring an additional 167,700 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Rhythm Pharmaceuticals by 14.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock valued at $58,208,000 after purchasing an additional 143,800 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at $33,353,000.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 1,281 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $76,129.83. Following the transaction, the insider now directly owns 2,657 shares in the company, valued at approximately $157,905.51. This trade represents a 32.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jennifer Kayden Lee sold 1,815 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $56.39, for a total transaction of $102,347.85. Following the transaction, the executive vice president now owns 3,598 shares in the company, valued at approximately $202,891.22. This trade represents a 33.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,787 shares of company stock worth $1,901,443 over the last three months. Insiders own 5.60% of the company’s stock.

Rhythm Pharmaceuticals Stock Down 0.6 %

Shares of NASDAQ:RYTM opened at $53.00 on Friday. The firm’s 50 day moving average price is $56.98 and its 200 day moving average price is $54.21. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -12.24 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its 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 analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. On average, equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Analyst Ratings Changes

RYTM has been the subject of several analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Canaccord Genuity Group upped their target price on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group upped their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price objective for the company. Finally, Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an “outperform” rating and a $76.00 target price for the company. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.18.

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.