Avior Wealth Management LLC Purchases New Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Avior Wealth Management LLC bought a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,589 shares of the company's stock, valued at approximately $243,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. bought a new stake in Rhythm Pharmaceuticals during the first quarter worth approximately $1,176,000. SG Americas Securities LLC purchased a new stake in shares of Rhythm Pharmaceuticals in the 1st quarter valued at approximately $1,042,000. Harbor Capital Advisors Inc. lifted its position in shares of Rhythm Pharmaceuticals by 155.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 77,297 shares of the company's stock valued at $4,094,000 after acquiring an additional 47,045 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Rhythm Pharmaceuticals by 3.6% in the 1st quarter. Rhumbline Advisers now owns 85,719 shares of the company's stock valued at $4,541,000 after acquiring an additional 2,988 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Rhythm Pharmaceuticals by 7,305.5% in the 1st quarter. GAMMA Investing LLC now owns 14,885 shares of the company's stock valued at $788,000 after acquiring an additional 14,684 shares in the last quarter.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 20,760 shares of the firm's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $60.14, for a total value of $1,248,506.40. Following the sale, the insider now directly owns 19,209 shares in the company, valued at $1,155,229.26. This trade represents a 51.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Yann Mazabraud sold 17,750 shares of the firm's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $60.99, for a total transaction of $1,082,572.50. Following the transaction, the executive vice president now directly owns 22,620 shares of the company's stock, valued at $1,379,593.80. The trade was a 43.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,386 shares of company stock worth $3,845,167 in the last ninety days. Insiders own 6.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Wells Fargo & Company upped their price target on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a research report on Monday, April 7th. Morgan Stanley restated an "overweight" rating and issued a $72.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Needham & Company LLC upped their price target on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, HC Wainwright reiterated a "buy" rating and issued a $80.00 target price (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $76.62.

Rhythm Pharmaceuticals Price Performance

NASDAQ:RYTM traded up $1.53 during midday trading on Tuesday, reaching $63.66. The stock had a trading volume of 608,243 shares, compared to its average volume of 552,016. The stock has a market capitalization of $4.05 billion, a P/E ratio of -22.65 and a beta of 2.30. The firm's fifty day simple moving average is $62.42 and its 200-day simple moving average is $58.03. Rhythm Pharmaceuticals, Inc. has a 1-year low of $39.46 and a 1-year high of $69.89.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $37.72 million during the quarter, compared to analyst estimates of $40.43 million. Rhythm Pharmaceuticals had a negative return on equity of 739.62% and a negative net margin of 123.26%. The business's revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.35) earnings per share. On average, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Rhythm Pharmaceuticals 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.