National Bank of Canada FI Boosts Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

National Bank of Canada FI lifted its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 82.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 239,000 shares of the company’s stock after purchasing an additional 108,000 shares during the period. National Bank of Canada FI owned about 0.40% of Rhythm Pharmaceuticals worth $10,786,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Polar Capital Holdings Plc increased its stake in shares of Rhythm Pharmaceuticals by 11.1% during the third quarter. Polar Capital Holdings Plc now owns 2,500,000 shares of the company’s stock worth $57,312,000 after purchasing an additional 250,000 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Rhythm Pharmaceuticals during the third quarter valued at approximately $4,757,000. Clearbridge Investments LLC purchased a new position in shares of Rhythm Pharmaceuticals in the third quarter valued at approximately $4,191,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth $4,058,000. Finally, FMR LLC raised its position in shares of Rhythm Pharmaceuticals by 23.8% in the third quarter. FMR LLC now owns 868,474 shares of the company’s stock valued at $19,910,000 after buying an additional 166,940 shares during the last quarter.

Rhythm Pharmaceuticals Trading Down 1.1 %

NASDAQ RYTM opened at $38.92 on Thursday. The stock has a fifty day simple moving average of $40.68 and a 200-day simple moving average of $39.85. The stock has a market cap of $2.37 billion, a PE ratio of -12.16 and a beta of 1.94. Rhythm Pharmaceuticals, Inc. has a twelve month low of $15.50 and a twelve month high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, May 7th. The company reported ($2.35) earnings per share for the quarter, missing the consensus estimate of ($2.34) by ($0.01). The company had revenue of $26.00 million for the quarter, compared to analysts’ expectations of $26.90 million. Rhythm Pharmaceuticals had a negative return on equity of 96.02% and a negative net margin of 238.50%. The company’s quarterly revenue was up 126.1% compared to the same quarter last year. During the same period last year, the business earned ($0.92) EPS. Research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.02 EPS for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, CFO Hunter C. Smith sold 1,209 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $51.38, for a total transaction of $62,118.42. Following the completion of the transaction, the chief financial officer now directly owns 80,413 shares in the company, valued at $4,131,619.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 18,235 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $40.34, for a total value of $735,599.90. Following the completion of the transaction, the insider now owns 30 shares in the company, valued at $1,210.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Hunter C. Smith sold 1,209 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $51.38, for a total value of $62,118.42. Following the completion of the sale, the chief financial officer now owns 80,413 shares in the company, valued at $4,131,619.94. The disclosure for this sale can be found here. Insiders have sold a total of 172,069 shares of company stock valued at $7,626,355 over the last quarter. 4.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RYTM has been the subject of a number of analyst reports. Canaccord Genuity Group dropped their price target on Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday. The Goldman Sachs Group upped their target price on Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Bank of America lowered Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $49.00 to $42.00 in a report on Wednesday. Needham & Company LLC dropped their price objective on shares of Rhythm Pharmaceuticals from $50.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Wells Fargo & Company cut their price objective on shares of Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.

About Rhythm Pharmaceuticals

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.