Rhythm Pharmaceuticals, Inc. $RYTM Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. decreased its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 12.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,731 shares of the company’s stock after selling 6,348 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.07% of Rhythm Pharmaceuticals worth $4,517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Federated Hermes Inc. raised its holdings in Rhythm Pharmaceuticals by 5.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,686,494 shares of the company’s stock worth $106,570,000 after buying an additional 94,623 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Rhythm Pharmaceuticals by 21.5% in the second quarter. Westfield Capital Management Co. LP now owns 1,629,468 shares of the company’s stock worth $102,966,000 after acquiring an additional 288,376 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Rhythm Pharmaceuticals by 1.9% during the second quarter. Geode Capital Management LLC now owns 1,311,253 shares of the company’s stock valued at $82,868,000 after acquiring an additional 24,085 shares during the period. Alkeon Capital Management LLC lifted its position in shares of Rhythm Pharmaceuticals by 24.5% in the 2nd quarter. Alkeon Capital Management LLC now owns 1,017,700 shares of the company’s stock valued at $64,308,000 after acquiring an additional 200,000 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Rhythm Pharmaceuticals by 445.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 783,559 shares of the company’s stock worth $49,513,000 after purchasing an additional 639,919 shares during the period.

Rhythm Pharmaceuticals Trading Down 2.4%

NASDAQ:RYTM opened at $99.42 on Wednesday. The firm has a market capitalization of $6.64 billion, a PE ratio of -32.07 and a beta of 2.00. Rhythm Pharmaceuticals, Inc. has a 1 year low of $45.90 and a 1 year high of $122.20. The firm’s fifty day simple moving average is $106.33 and its 200 day simple moving average is $97.94.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.82) earnings per share 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 during the quarter, compared to the consensus estimate of $50.71 million. As a group, analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Analyst Ratings Changes

RYTM has been the subject of several research analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $150.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Thursday, December 11th. Needham & Company LLC upped their target price on Rhythm Pharmaceuticals from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, December 11th. HC Wainwright increased their price target on shares of Rhythm Pharmaceuticals from $110.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Citizens Jmp raised their price target on shares of Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the stock a “market outperform” rating in a report on Friday, December 12th. Finally, Canaccord Genuity Group boosted their price objective on shares of Rhythm Pharmaceuticals from $114.00 to $141.00 and gave the company a “buy” rating in a research report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $129.79.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 9,748 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $115.24, for a total value of $1,123,359.52. Following the sale, the insider directly owned 8,509 shares in the company, valued at $980,577.16. This represents a 53.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Pamela J. Cramer sold 3,350 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $111.00, for a total transaction of $371,850.00. Following the completion of the transaction, the insider owned 20,814 shares in the company, valued at approximately $2,310,354. This trade represents a 13.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,350 shares of company stock worth $3,436,340 over the last ninety days. Company insiders own 6.10% of the company’s stock.

Rhythm Pharmaceuticals 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.