Goldman Sachs Group Inc. Sells 62,797 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Goldman Sachs Group Inc. lowered its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 3.3% during the 4th quarter, HoldingsChannel reports. The firm owned 1,830,866 shares of the company’s stock after selling 62,797 shares during the period. Goldman Sachs Group Inc.’s holdings in Rhythm Pharmaceuticals were worth $195,976,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RYTM. EverSource Wealth Advisors LLC increased its holdings in shares of Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Rhythm Pharmaceuticals by 97.2% in the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after purchasing an additional 141 shares during the period. Optiver Holding B.V. increased its holdings in shares of Rhythm Pharmaceuticals by 65.2% in the third quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock worth $37,000 after purchasing an additional 144 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Rhythm Pharmaceuticals by 73.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 145 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Rhythm Pharmaceuticals by 48.6% in the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock worth $39,000 after purchasing an additional 118 shares during the period.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM opened at $86.40 on Friday. Rhythm Pharmaceuticals, Inc. has a 52-week low of $60.70 and a 52-week high of $122.20. The firm has a fifty day moving average of $87.45 and a 200 day moving average of $96.82. The firm has a market capitalization of $5.92 billion, a PE ratio of -27.60 and a beta of 1.91.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The business had revenue of $60.11 million during the quarter, compared to analyst estimates of $55.78 million. During the same period in the prior year, the business posted ($0.81) earnings per share. The company’s revenue was up 83.8% on a year-over-year basis. On average, sell-side analysts forecast that Rhythm Pharmaceuticals, Inc. will post -3.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RYTM shares. Citizens Jmp cut their target price on shares of Rhythm Pharmaceuticals from $176.00 to $152.00 and set a “market outperform” rating for the company in a research report on Tuesday, March 17th. Telsey Advisory Group set a $143.00 target price on shares of Rhythm Pharmaceuticals in a research report on Thursday, March 12th. Needham & Company LLC cut their target price on shares of Rhythm Pharmaceuticals from $139.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Canaccord Genuity Group upped their target price on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada upped their target price on shares of Rhythm Pharmaceuticals from $136.00 to $137.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.81.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.