Alps Advisors Inc. Decreases Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Alps Advisors Inc. lessened its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 7.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,207 shares of the company's stock after selling 3,493 shares during the quarter. Alps Advisors Inc. owned approximately 0.07% of Rhythm Pharmaceuticals worth $2,448,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of Wyoming acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth $61,000. GF Fund Management CO. LTD. acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth $72,000. Raymond James Financial Inc. acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $218,000. Xponance Inc. acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $233,000. Finally, Mariner LLC acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $254,000.

Analyst Upgrades and Downgrades

RYTM has been the subject of several analyst reports. Guggenheim reissued a "buy" rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, July 10th. Needham & Company LLC reissued a "buy" rating and issued a $95.00 target price (up previously from $72.00) on shares of Rhythm Pharmaceuticals in a research note on Wednesday, July 9th. The Goldman Sachs Group initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, July 10th. They issued a "buy" rating and a $97.00 target price for the company. Oppenheimer set a $110.00 target price on shares of Rhythm Pharmaceuticals and gave the company an "outperform" rating in a research note on Thursday, July 10th. Finally, Morgan Stanley set a $95.00 price target on Rhythm Pharmaceuticals and gave the company an "overweight" rating in a report on Wednesday, July 9th. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $91.00.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Alastair Garfield sold 1,319 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $64.81, for a total value of $85,484.39. Following the completion of the transaction, the insider owned 3,126 shares in the company, valued at $202,596.06. This represents a 29.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christopher Paul German sold 3,817 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $80.75, for a total value of $308,222.75. Following the completion of the transaction, the chief accounting officer owned 922 shares of the company's stock, valued at approximately $74,451.50. This represents a 80.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,673 shares of company stock worth $7,118,510. Company insiders own 6.10% of the company's stock.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM traded up $2.08 during trading on Wednesday, reaching $91.44. 727,203 shares of the stock were exchanged, compared to its average volume of 590,425. Rhythm Pharmaceuticals, Inc. has a 12-month low of $40.61 and a 12-month high of $94.80. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of -32.54 and a beta of 2.26. The firm's 50-day moving average price is $65.37 and its 200 day moving average price is $59.75.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative return on equity of 739.62% and a negative net margin of 123.26%. The firm had revenue of $37.72 million for the quarter, compared to analysts' expectations of $40.43 million. During the same quarter in the previous year, the firm posted ($2.35) EPS. The firm's revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

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.