Federated Hermes Inc. Reduces Stock Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Federated Hermes Inc. lowered its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,310,955 shares of the company’s stock after selling 30,380 shares during the quarter. Federated Hermes Inc. owned about 3.91% of Rhythm Pharmaceuticals worth $106,235,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. lifted its position in Rhythm Pharmaceuticals by 65.7% in the second quarter. BlackRock Inc. now owns 6,265,005 shares of the company’s stock valued at $103,310,000 after buying an additional 2,484,406 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Rhythm Pharmaceuticals by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,339,750 shares of the company’s stock valued at $38,474,000 after buying an additional 243,202 shares during the last quarter. State Street Corp lifted its position in Rhythm Pharmaceuticals by 25.1% in the second quarter. State Street Corp now owns 3,267,425 shares of the company’s stock valued at $53,880,000 after buying an additional 655,237 shares during the last quarter. Vanguard Group Inc. lifted its position in Rhythm Pharmaceuticals by 2.9% in the third quarter. Vanguard Group Inc. now owns 3,014,568 shares of the company’s stock valued at $69,109,000 after buying an additional 85,139 shares during the last quarter. Finally, Polar Capital Holdings Plc lifted its position in shares of Rhythm Pharmaceuticals by 11.1% during the third quarter. Polar Capital Holdings Plc now owns 2,500,000 shares of the company’s stock worth $57,312,000 after purchasing an additional 250,000 shares in the last quarter.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Rhythm Pharmaceuticals in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company reduced their price target on shares of Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $47.20.

Insider Activity at Rhythm Pharmaceuticals

In related news, CFO Hunter C. Smith sold 1,209 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $51.38, for a total value of $62,118.42. Following the sale, the chief financial officer now owns 80,413 shares of the company’s stock, valued at $4,131,619.94. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 1,209 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $51.38, for a total value of $62,118.42. Following the transaction, the chief financial officer now directly owns 80,413 shares in the company, valued at $4,131,619.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David P. Meeker sold 45,494 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $39.22, for a total transaction of $1,784,274.68. Following the completion of the transaction, the chief executive officer now owns 174,605 shares in the company, valued at $6,848,008.10. The disclosure for this sale can be found here. Insiders have sold a total of 172,069 shares of company stock valued at $7,626,355 over the last 90 days. 4.70% of the stock is owned by corporate insiders.

Rhythm Pharmaceuticals Stock Down 0.9 %

Shares of NASDAQ:RYTM opened at $38.11 on Friday. The firm’s 50 day moving average price is $42.98 and its 200 day moving average price is $38.09. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $15.50 and a fifty-two week high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Thursday, February 22nd. The company reported ($0.70) earnings per share for the quarter, meeting the consensus estimate of ($0.70). The firm had revenue of $24.23 million for the quarter, compared to analysts’ expectations of $25.38 million. Rhythm Pharmaceuticals had a negative net margin of 238.50% and a negative return on equity of 96.02%. The firm’s revenue was up 175.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.75) earnings per share. Analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.05 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.