California State Teachers Retirement System Acquires 12,269 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

California State Teachers Retirement System lifted its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 22.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,806 shares of the company's stock after buying an additional 12,269 shares during the quarter. California State Teachers Retirement System owned about 0.10% of Rhythm Pharmaceuticals worth $5,723,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company's stock worth $28,000 after buying an additional 200 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of Rhythm Pharmaceuticals by 73.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company's stock valued at $37,000 after buying an additional 145 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Rhythm Pharmaceuticals by 39.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company's stock valued at $43,000 after buying an additional 113 shares in the last quarter. Covestor Ltd grew its holdings in shares of Rhythm Pharmaceuticals by 328.9% during the fourth quarter. Covestor Ltd now owns 579 shares of the company's stock valued at $62,000 after buying an additional 444 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Rhythm Pharmaceuticals by 82.9% during the fourth quarter. Farther Finance Advisors LLC now owns 642 shares of the company's stock valued at $69,000 after buying an additional 291 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RYTM shares. Royal Bank Of Canada upped their target price on shares of Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the stock an "outperform" rating in a report on Wednesday. Canaccord Genuity Group set a $154.00 price target on Rhythm Pharmaceuticals in a research note on Wednesday. National Bank Financial set a $160.00 price objective on Rhythm Pharmaceuticals in a report on Wednesday. Weiss Ratings reissued a "sell (d-)" rating on shares of Rhythm Pharmaceuticals in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. initiated coverage on Rhythm Pharmaceuticals in a report on Monday, July 27th. They issued an "overweight" rating and a $145.00 target price on the stock. Fifteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $142.38.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 37,000 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the completion of the transaction, the director directly owned 7,000 shares of the company's stock, valued at approximately $702,240. This represents a 84.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.90% of the company's stock.

Rhythm Pharmaceuticals Stock Performance

NASDAQ RYTM opened at $112.10 on Friday. Rhythm Pharmaceuticals, Inc. has a 52-week low of $74.50 and a 52-week high of $122.20. The company has a 50-day simple moving average of $101.96 and a 200 day simple moving average of $95.92. The company has a market capitalization of $7.68 billion, a PE ratio of -36.05 and a beta of 1.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share for the quarter, beating analysts' consensus estimates of ($0.81) by $0.08. The firm had revenue of $71.25 million for the quarter, compared to analysts' expectations of $67.66 million. Rhythm Pharmaceuticals had a negative net margin of 85.59% and a negative return on equity of 159.87%. The company's quarterly revenue was up 46.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.75) earnings per share. As a group, analysts forecast that Rhythm Pharmaceuticals, Inc. will post -2.93 EPS for the current fiscal year.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company's research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company's lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.

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