SG Americas Securities LLC Buys 13,369 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

SG Americas Securities LLC increased its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 216.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,554 shares of the company’s stock after purchasing an additional 13,369 shares during the period. SG Americas Securities LLC’s holdings in Rhythm Pharmaceuticals were worth $1,975,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Rhythm Pharmaceuticals in the second quarter worth $13,105,000. Intech Investment Management LLC increased its stake in Rhythm Pharmaceuticals by 20.7% in the 1st quarter. Intech Investment Management LLC now owns 33,893 shares of the company’s stock valued at $1,795,000 after buying an additional 5,801 shares during the last quarter. Alkeon Capital Management LLC lifted its position in Rhythm Pharmaceuticals by 24.5% during the 2nd quarter. Alkeon Capital Management LLC now owns 1,017,700 shares of the company’s stock worth $64,308,000 after buying an additional 200,000 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Rhythm Pharmaceuticals by 12.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 86,546 shares of the company’s stock worth $5,469,000 after buying an additional 9,249 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new position in shares of Rhythm Pharmaceuticals during the 2nd quarter worth about $632,000.

Rhythm Pharmaceuticals Trading Up 5.1%

Shares of NASDAQ RYTM opened at $113.34 on Thursday. The company has a market capitalization of $7.56 billion, a P/E ratio of -36.56 and a beta of 2.00. Rhythm Pharmaceuticals, Inc. has a 12 month low of $45.90 and a 12 month high of $122.20. The stock has a 50 day moving average of $105.70 and a 200-day moving average of $99.45.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.10). Rhythm Pharmaceuticals had a negative net margin of 110.32% and a negative return on equity of 433.21%. The business had revenue of $51.30 million for the quarter, compared to analyst estimates of $50.71 million. Analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RYTM. Oppenheimer downgraded Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. Guggenheim boosted their price target on Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Citizens Jmp upped their price objective on Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the stock a “market outperform” rating in a research note on Friday, December 12th. UBS Group reissued a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, December 17th. Finally, The Goldman Sachs Group boosted their target price on shares of Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $130.00.

Insider Activity

In related news, insider Joseph Shulman sold 9,748 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $115.24, for a total value of $1,123,359.52. Following the transaction, the insider owned 8,509 shares in the company, valued at approximately $980,577.16. This represents a 53.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pamela J. Cramer sold 3,350 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $111.00, for a total transaction of $371,850.00. Following the sale, the insider owned 20,814 shares of the company’s stock, valued at $2,310,354. This trade represents a 13.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,913 shares of company stock valued at $1,818,963 in the last ninety days. 6.10% of the stock is currently owned by insiders.

Rhythm Pharmaceuticals Company Profile

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.