Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) Short Interest Down 17.8% in June

Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) saw a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 1,204,200 shares, a decline of 17.8% from the May 30th total of 1,464,400 shares. Currently, 6.3% of the shares of the stock are sold short. Based on an average trading volume of 144,200 shares, the days-to-cover ratio is presently 8.4 days.

In other news, insider Der Ploeg Leonardus H.T. Van sold 10,000 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $25.21, for a total value of $252,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.45% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Marshall Wace North America L.P. acquired a new stake in Rhythm Pharmaceuticals during the first quarter worth about $33,000. Great West Life Assurance Co. Can acquired a new stake in Rhythm Pharmaceuticals during the fourth quarter worth about $68,000. BNP Paribas Arbitrage SA increased its stake in Rhythm Pharmaceuticals by 105,433.3% during the first quarter. BNP Paribas Arbitrage SA now owns 3,166 shares of the company’s stock worth $87,000 after acquiring an additional 3,163 shares during the last quarter. TD Asset Management Inc. increased its stake in Rhythm Pharmaceuticals by 21.5% during the first quarter. TD Asset Management Inc. now owns 18,659 shares of the company’s stock worth $511,000 after acquiring an additional 3,300 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in Rhythm Pharmaceuticals by 25.7% during the fourth quarter. New York State Common Retirement Fund now owns 17,105 shares of the company’s stock worth $460,000 after acquiring an additional 3,500 shares during the last quarter. Institutional investors own 89.63% of the company’s stock.



Rhythm Pharmaceuticals stock traded up $0.52 during trading on Friday, hitting $21.18. The company’s stock had a trading volume of 477,802 shares, compared to its average volume of 224,432. The stock has a market capitalization of $711.37 million, a PE ratio of -8.86 and a beta of 0.79. The stock has a fifty day moving average price of $23.11. Rhythm Pharmaceuticals has a 1-year low of $20.52 and a 1-year high of $34.97. The company has a debt-to-equity ratio of 0.02, a current ratio of 18.32 and a quick ratio of 18.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Friday, May 3rd. The company reported ($0.84) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by ($0.08). Equities research analysts forecast that Rhythm Pharmaceuticals will post -3.39 EPS for the current fiscal year.

Several equities analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 target price on shares of Rhythm Pharmaceuticals in a research note on Sunday, May 5th. Stifel Nicolaus reiterated a “buy” rating and issued a $238.00 target price (up from $209.00) on shares of Lululemon Athletica in a research note on Friday. Zacks Investment Research upgraded HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Canaccord Genuity reiterated a “buy” rating and issued a GBX 55 ($0.72) target price on shares of Attraqt Group in a research note on Monday, July 8th. Finally, BidaskClub upgraded DENTSPLY SIRONA from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $38.67.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic disorders that result in life-threatening metabolic disorders. The company's lead product candidate is setmelanotide, a melanocortin-4 receptor agonist peptide, which is in Phase III clinical trials to treat pro-opiomelanocortin (POMC) and leptin receptor deficiency obesity, and Bardet-Biedl and Alström syndrome; and is in Phase II clinical trials for treating POMC heterozygous deficiency obesity and POMC epigenetic disorders.

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