Bellevue Group AG Has $1.51 Million Stock Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Bellevue Group AG decreased its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 55.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,869 shares of the company’s stock after selling 40,431 shares during the period. Bellevue Group AG owned about 0.06% of Rhythm Pharmaceuticals worth $1,511,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RYTM. Artisan Partners Limited Partnership acquired a new position in Rhythm Pharmaceuticals in the 4th quarter worth about $12,477,000. Polar Capital Holdings Plc increased its stake in shares of Rhythm Pharmaceuticals by 11.1% in the third quarter. Polar Capital Holdings Plc now owns 2,500,000 shares of the company’s stock valued at $57,312,000 after buying an additional 250,000 shares during the period. Hudson Bay Capital Management LP bought a new position in shares of Rhythm Pharmaceuticals during the third quarter worth about $4,757,000. Clearbridge Investments LLC acquired a new position in shares of Rhythm Pharmaceuticals in the third quarter worth approximately $4,191,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Rhythm Pharmaceuticals during the 3rd quarter valued at approximately $4,058,000.

Insider Buying and Selling

In related news, insider Joseph Shulman sold 3,984 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $38.47, for a total value of $153,264.48. Following the sale, the insider now directly owns 30 shares in the company, valued at approximately $1,154.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David P. Meeker sold 45,494 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $39.22, for a total value of $1,784,274.68. Following the sale, the chief executive officer now directly owns 174,605 shares of the company’s stock, valued at $6,848,008.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Shulman sold 3,984 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $38.47, for a total transaction of $153,264.48. Following the completion of the sale, the insider now owns 30 shares in the company, valued at $1,154.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,596 shares of company stock worth $3,924,525. 5.60% of the stock is owned by insiders.

Analysts Set New Price Targets

RYTM has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Bank of America lowered Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $49.00 to $42.00 in a research report on Wednesday, May 8th. Canaccord Genuity Group cut their price target on Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, Needham & Company LLC lowered their price objective on shares of Rhythm Pharmaceuticals from $50.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

Rhythm Pharmaceuticals Trading Up 2.6 %

Shares of RYTM opened at $41.01 on Tuesday. The business’s fifty day moving average is $39.36 and its 200 day moving average is $41.67. Rhythm Pharmaceuticals, Inc. has a 12-month low of $15.50 and a 12-month high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, May 7th. The company reported ($2.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.34) by ($0.01). The company had revenue of $26.00 million during the quarter, compared to the consensus estimate of $26.90 million. Rhythm Pharmaceuticals had a negative net margin of 297.91% and a negative return on equity of 179.26%. The firm’s revenue for the quarter was up 126.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.92) EPS. On average, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.44 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.