Algert Global LLC Trims Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Algert Global LLC cut its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 23.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 41,551 shares of the company's stock after selling 12,620 shares during the quarter. Algert Global LLC owned about 0.07% of Rhythm Pharmaceuticals worth $2,326,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. SRS Capital Advisors Inc. grew its stake in shares of Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock worth $25,000 after acquiring an additional 400 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in Rhythm Pharmaceuticals during the fourth quarter worth $28,000. SBI Securities Co. Ltd. bought a new position in Rhythm Pharmaceuticals in the fourth quarter valued at $37,000. R Squared Ltd acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at $44,000. Finally, KBC Group NV lifted its position in Rhythm Pharmaceuticals by 78.2% during the 4th quarter. KBC Group NV now owns 2,251 shares of the company's stock worth $126,000 after buying an additional 988 shares in the last quarter.

Rhythm Pharmaceuticals Stock Down 1.5%

Shares of RYTM traded down $0.86 during trading hours on Wednesday, hitting $55.93. The company had a trading volume of 221,941 shares, compared to its average volume of 547,985. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58. The stock's 50 day moving average price is $57.07 and its 200 day moving average price is $57.17. The firm has a market cap of $3.56 billion, a P/E ratio of -12.92 and a beta of 2.36.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) earnings per share for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $37.72 million for the quarter, compared to analysts' expectations of $40.43 million. During the same period last year, the company posted ($2.35) EPS. The business's revenue for the quarter was up 25.9% compared to the same quarter last year. On average, research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RYTM. Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They set a "buy" rating and a $78.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 target price (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Needham & Company LLC raised their price objective on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Bank of America raised Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target for the company in a research note on Monday, April 7th. Finally, Morgan Stanley restated an "overweight" rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $75.38.

Insider Activity

In other news, CAO Christopher Paul German sold 635 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $36,334.70. Following the completion of the transaction, the chief accounting officer now owns 2,070 shares in the company, valued at $118,445.40. This trade represents a 23.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Hunter C. Smith sold 2,215 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $126,742.30. Following the sale, the chief financial officer now owns 109,929 shares in the company, valued at approximately $6,290,137.38. This trade represents a 1.98% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,639 shares of company stock valued at $8,023,381. Insiders own 5.60% of the company's stock.

Rhythm Pharmaceuticals Company 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.