Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock Holdings Decreased by Alps Advisors Inc.

Alps Advisors Inc. cut its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 7.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,207 shares of the company's stock after selling 3,493 shares during the period. Alps Advisors Inc. owned approximately 0.07% of Rhythm Pharmaceuticals worth $2,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. State of Wyoming acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at approximately $61,000. GF Fund Management CO. LTD. acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at $72,000. Raymond James Financial Inc. acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at $218,000. Xponance Inc. purchased a new position in Rhythm Pharmaceuticals in the fourth quarter valued at $233,000. Finally, Avior Wealth Management LLC purchased a new position in Rhythm Pharmaceuticals in the first quarter valued at $243,000.

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Alastair Garfield sold 1,319 shares of Rhythm Pharmaceuticals stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $64.81, for a total transaction of $85,484.39. Following the transaction, the insider owned 3,126 shares in the company, valued at approximately $202,596.06. The trade was a 29.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Pamela J. Cramer sold 15,572 shares of Rhythm Pharmaceuticals stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $77.13, for a total transaction of $1,201,068.36. Following the transaction, the insider owned 19,209 shares in the company, valued at $1,481,590.17. The trade was a 44.77% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,673 shares of company stock worth $7,118,510. 6.10% of the stock is owned by corporate insiders.

Rhythm Pharmaceuticals Price Performance

RYTM stock traded down $2.34 during midday trading on Friday, hitting $86.70. The stock had a trading volume of 1,105,173 shares, compared to its average volume of 588,517. The firm has a market cap of $5.52 billion, a PE ratio of -30.85 and a beta of 2.26. Rhythm Pharmaceuticals, Inc. has a 12-month low of $40.61 and a 12-month high of $94.80. The company's 50-day moving average price is $64.34 and its 200 day moving average price is $59.29.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative net margin of 123.26% and a negative return on equity of 739.62%. The company had revenue of $37.72 million for the quarter, compared to analysts' expectations of $40.43 million. During the same period in the prior year, the firm earned ($2.35) earnings per share. The firm's quarterly revenue was up 25.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on RYTM. Canaccord Genuity Group increased their target price on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. The Goldman Sachs Group started coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday. They set a "buy" rating and a $97.00 target price for the company. JMP Securities restated a "market outperform" rating and issued a $84.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Thursday, June 26th. Oppenheimer raised their price objective on shares of Rhythm Pharmaceuticals from $76.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, HC Wainwright reiterated a "buy" rating and set a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $91.00.

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.