Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) major shareholder Ra Capital Management, L.P. sold 11,568 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $25.05, for a total value of $289,778.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Ra Capital Management, L.P. also recently made the following trade(s):
- On Monday, June 29th, Ra Capital Management, L.P. sold 52,049 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $22.19, for a total value of $1,154,967.31.
RYTM stock opened at $22.30 on Wednesday. The stock has a market capitalization of $1.01 billion, a PE ratio of -5.81 and a beta of 0.94. The company’s 50-day moving average is $20.68 and its 200-day moving average is $19.21. The company has a debt-to-equity ratio of 0.01, a current ratio of 15.14 and a quick ratio of 15.14. Rhythm Pharmaceuticals Inc has a 1 year low of $12.99 and a 1 year high of $25.86.
Several hedge funds have recently added to or reduced their stakes in RYTM. Quantbot Technologies LP bought a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $33,000. Marshall Wace North America L.P. bought a new position in Rhythm Pharmaceuticals in the 1st quarter valued at about $33,000. Great West Life Assurance Co. Can bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $54,000. Victory Capital Management Inc. lifted its position in Rhythm Pharmaceuticals by 56.2% in the 4th quarter. Victory Capital Management Inc. now owns 4,359 shares of the company’s stock valued at $76,000 after acquiring an additional 1,569 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in Rhythm Pharmaceuticals by 83.5% in the 4th quarter. Bank of Montreal Can now owns 3,697 shares of the company’s stock valued at $85,000 after acquiring an additional 1,682 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on the company. Stifel Nicolaus restated a “buy” rating and issued a $31.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, May 4th. BidaskClub raised shares of Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, June 23rd. Needham & Company LLC started coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 24th. They set a “buy” rating and a $42.00 price target on the stock. Morgan Stanley cut their price target on shares of Rhythm Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Finally, LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $43.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday, March 31st. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $32.75.
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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