SG Americas Securities LLC Has $1.63 Million Stock Position in Rhythm Pharmaceuticals, Inc. $RYTM

SG Americas Securities LLC boosted its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 59.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,760 shares of the company’s stock after purchasing an additional 7,019 shares during the quarter. SG Americas Securities LLC’s holdings in Rhythm Pharmaceuticals were worth $1,632,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RYTM. EverSource Wealth Advisors LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 200 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Rhythm Pharmaceuticals by 73.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 145 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Rhythm Pharmaceuticals by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after acquiring an additional 118 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Rhythm Pharmaceuticals by 39.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after acquiring an additional 113 shares during the period. Finally, Covestor Ltd lifted its position in shares of Rhythm Pharmaceuticals by 328.9% during the 4th quarter. Covestor Ltd now owns 579 shares of the company’s stock valued at $62,000 after acquiring an additional 444 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have commented on RYTM shares. Telsey Advisory Group set a $143.00 price target on shares of Rhythm Pharmaceuticals in a report on Thursday, March 12th. Stifel Nicolaus set a $133.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, June 15th. Morgan Stanley cut their price objective on shares of Rhythm Pharmaceuticals from $150.00 to $136.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Wall Street Zen upgraded Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $133.12.

Rhythm Pharmaceuticals Trading Up 3.4%

Shares of RYTM stock opened at $114.17 on Friday. The firm has a market capitalization of $7.82 billion, a PE ratio of -36.48 and a beta of 1.88. The firm has a fifty day simple moving average of $92.64 and a two-hundred day simple moving average of $95.92. Rhythm Pharmaceuticals, Inc. has a 12 month low of $64.65 and a 12 month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, topping 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 firm had revenue of $60.11 million for the quarter, compared to the consensus estimate of $55.78 million. During the same quarter in the prior year, the company posted ($0.81) earnings per share. The business’s revenue was up 83.8% on a year-over-year basis. On average, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -3.11 earnings per share for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In related news, Director Lynn A. Tetrault sold 37,000 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $100.32, for a total value of $3,711,840.00. Following the sale, the director owned 7,000 shares in the company, valued at $702,240. This represents a 84.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% 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.