Rhythm Pharmaceuticals, Inc. $RYTM Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 28.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,131 shares of the company’s stock after buying an additional 16,513 shares during the period. New York State Common Retirement Fund owned approximately 0.11% of Rhythm Pharmaceuticals worth $7,587,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the business. AQR Capital Management LLC lifted its stake in Rhythm Pharmaceuticals by 148.2% in the 1st quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock worth $2,085,000 after purchasing an additional 23,506 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Rhythm Pharmaceuticals by 6.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,282 shares of the company’s stock valued at $1,874,000 after purchasing an additional 2,126 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Rhythm Pharmaceuticals by 16.2% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,458 shares of the company’s stock valued at $155,000 after purchasing an additional 342 shares during the last quarter. KLP Kapitalforvaltning AS lifted its position in Rhythm Pharmaceuticals by 9.7% during the second quarter. KLP Kapitalforvaltning AS now owns 10,200 shares of the company’s stock worth $645,000 after buying an additional 900 shares in the last quarter. Finally, CWM LLC lifted its position in Rhythm Pharmaceuticals by 19.6% during the second quarter. CWM LLC now owns 3,091 shares of the company’s stock worth $195,000 after buying an additional 507 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have issued reports on RYTM. Citizens Jmp raised their target price 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. TD Cowen reaffirmed a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, December 11th. Zacks Research cut shares of Rhythm Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $131.29.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock opened at $107.97 on Thursday. Rhythm Pharmaceuticals, Inc. has a 1-year low of $45.90 and a 1-year high of $122.20. The firm has a market cap of $7.21 billion, a PE ratio of -34.83 and a beta of 2.00. The company has a 50-day moving average of $106.77 and a two-hundred day moving average of $102.24.

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

Insider Activity at Rhythm Pharmaceuticals

In other news, 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 value of $371,850.00. Following the completion of the sale, the insider directly owned 20,814 shares of the company’s stock, valued at approximately $2,310,354. The trade was a 13.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by corporate 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.