Federated Hermes Inc. Has $174.50 Million Position in Rhythm Pharmaceuticals, Inc. $RYTM

Federated Hermes Inc. increased its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,727,885 shares of the company’s stock after acquiring an additional 41,391 shares during the period. Federated Hermes Inc. owned about 2.60% of Rhythm Pharmaceuticals worth $174,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in shares of Rhythm Pharmaceuticals by 956.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 13,254 shares of the company’s stock valued at $1,339,000 after purchasing an additional 12,000 shares during the last quarter. Norges Bank acquired a new stake in Rhythm Pharmaceuticals in the second quarter valued at about $13,105,000. Alkeon Capital Management LLC boosted its stake in Rhythm Pharmaceuticals by 24.5% in the second quarter. Alkeon Capital Management LLC now owns 1,017,700 shares of the company’s stock valued at $64,308,000 after buying an additional 200,000 shares in the last quarter. SG Americas Securities LLC grew its position in Rhythm Pharmaceuticals by 216.2% in the third quarter. SG Americas Securities LLC now owns 19,554 shares of the company’s stock valued at $1,975,000 after acquiring an additional 13,369 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Rhythm Pharmaceuticals during the third quarter worth about $677,000.

Insiders Place Their Bets

In other news, insider Joseph Shulman sold 9,748 shares of the company’s stock in a transaction on 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 sale, the insider directly owned 8,509 shares of the company’s stock, valued at approximately $980,577.16. This represents a 53.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Pamela J. Cramer sold 3,350 shares of Rhythm Pharmaceuticals stock in a transaction 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 transaction, the insider directly owned 20,814 shares of the company’s stock, valued at $2,310,354. This represents a 13.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on RYTM shares. Citizens Jmp raised their target price on shares of Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the company a “market outperform” rating in a research report on Friday, December 12th. Citigroup reissued an “outperform” rating on shares of Rhythm Pharmaceuticals in a report on Friday, December 12th. Canaccord Genuity Group increased their target price on Rhythm Pharmaceuticals from $114.00 to $141.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 22nd. Finally, Wall Street Zen downgraded Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $131.29.

Rhythm Pharmaceuticals Trading Up 2.1%

NASDAQ RYTM opened at $105.53 on Wednesday. The firm has a market capitalization of $7.04 billion, a PE ratio of -34.04 and a beta of 2.00. The business’s 50-day moving average price is $106.65 and its two-hundred day moving average price is $101.67. Rhythm Pharmaceuticals, Inc. has a 12 month low of $45.90 and a 12 month high of $122.20.

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

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.