Quantinno Capital Management LP Sells 2,000 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Quantinno Capital Management LP lessened its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 11.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,120 shares of the company’s stock after selling 2,000 shares during the period. Quantinno Capital Management LP’s holdings in Rhythm Pharmaceuticals were worth $845,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RYTM. Perceptive Advisors LLC lifted its position in shares of Rhythm Pharmaceuticals by 5.4% in the 2nd quarter. Perceptive Advisors LLC now owns 3,446,579 shares of the company’s stock worth $141,517,000 after acquiring an additional 178,000 shares during the period. Frazier Life Sciences Management L.P. increased its position in shares of Rhythm Pharmaceuticals by 8.3% during the second quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock valued at $97,366,000 after purchasing an additional 181,125 shares during the period. Driehaus Capital Management LLC raised its stake in shares of Rhythm Pharmaceuticals by 38.2% in the second quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company’s stock valued at $48,548,000 after purchasing an additional 326,865 shares in the last quarter. Alkeon Capital Management LLC lifted its position in Rhythm Pharmaceuticals by 16.8% in the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock worth $61,176,000 after purchasing an additional 167,700 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Rhythm Pharmaceuticals by 14.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock worth $58,208,000 after buying an additional 143,800 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RYTM. TD Cowen increased their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. HC Wainwright reissued a “buy” rating and issued a $69.00 price target on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Bank of America upped their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $63.70.

Insider Activity at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 4,688 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $65.00, for a total transaction of $304,720.00. Following the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at $877,500. This represents a 25.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer Kayden Lee sold 66,861 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the completion of the transaction, the executive vice president now owns 972 shares of the company’s stock, valued at $64,472.76. This trade represents a 98.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 116,581 shares of company stock valued at $7,285,752 over the last ninety days. 5.60% of the stock is owned by insiders.

Rhythm Pharmaceuticals Trading Down 0.8 %

NASDAQ:RYTM opened at $55.24 on Friday. The stock has a market capitalization of $3.40 billion, a P/E ratio of -12.76 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The firm has a 50 day moving average of $55.66 and a 200-day moving average of $49.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.07. The firm had revenue of $33.20 million during the quarter, compared to the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business’s revenue for the quarter was up 47.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.76) EPS. As a group, analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.36 EPS for the current fiscal year.

Rhythm Pharmaceuticals 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.