Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stake Boosted by Federated Hermes Inc.

Federated Hermes Inc. raised its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 2.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,591,871 shares of the company's stock after buying an additional 42,236 shares during the quarter. Federated Hermes Inc. owned about 2.50% of Rhythm Pharmaceuticals worth $84,321,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. State of Wyoming acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at $61,000. GF Fund Management CO. LTD. acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at $72,000. CWM LLC increased its stake in Rhythm Pharmaceuticals by 92.3% in the 1st quarter. CWM LLC now owns 2,584 shares of the company's stock valued at $137,000 after buying an additional 1,240 shares during the period. Raymond James Financial Inc. acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at $218,000. Finally, Xponance Inc. increased its stake in Rhythm Pharmaceuticals by 4.7% in the 1st quarter. Xponance Inc. now owns 4,365 shares of the company's stock valued at $231,000 after buying an additional 197 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RYTM shares. Wall Street Zen raised shares of Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Stifel Nicolaus upped their price target on shares of Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Bank of America upped their price target on shares of Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Guggenheim reaffirmed a "buy" rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, July 10th. Finally, HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective (up from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $91.93.

Rhythm Pharmaceuticals Stock Up 3.6%

Shares of RYTM stock traded up $3.07 during trading hours on Friday, hitting $88.30. 666,964 shares of the company were exchanged, compared to its average volume of 901,449. The firm has a market cap of $5.62 billion, a PE ratio of -31.42 and a beta of 2.38. Rhythm Pharmaceuticals, Inc. has a 1 year low of $40.61 and a 1 year high of $94.80. The firm has a fifty day moving average of $72.39 and a 200 day moving average of $62.45.

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 for the quarter, missing the consensus estimate of ($0.69) by ($0.12). The company had revenue of $37.72 million for the quarter, compared to analysts' expectations of $40.43 million. Rhythm Pharmaceuticals had a negative return on equity of 739.62% and a negative net margin of 123.26%. The company's revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.35) earnings per share. Analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insider Activity

In related news, insider Joseph Shulman sold 7,969 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $77.78, for a total transaction of $619,828.82. Following the completion of the sale, the insider owned 8,509 shares of the company's stock, valued at approximately $661,830.02. This represents a 48.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Hunter C. Smith sold 42,120 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $80.48, for a total transaction of $3,389,817.60. Following the completion of the sale, the chief financial officer directly owned 116,915 shares of the company's stock, valued at $9,409,319.20. This trade represents a 26.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,417 shares of company stock worth $6,352,511. Insiders own 6.10% of the company's stock.

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.