Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. raised its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RYTM. Raymond James Financial Inc. acquired a new stake in Rhythm Pharmaceuticals during the 4th quarter valued at $218,000. American Century Companies Inc. acquired a new stake in Rhythm Pharmaceuticals during the 4th quarter valued at $1,890,000. Sei Investments Co. grew its holdings in Rhythm Pharmaceuticals by 15.5% during the 4th quarter. Sei Investments Co. now owns 33,522 shares of the company's stock valued at $1,877,000 after buying an additional 4,501 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth $521,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Rhythm Pharmaceuticals by 224.3% during the 4th quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company's stock worth $14,811,000 after purchasing an additional 182,993 shares during the period.

Insider Transactions at Rhythm Pharmaceuticals

In related news, CAO Christopher Paul German sold 3,817 shares of the stock in a transaction 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 sale, the chief accounting officer directly owned 922 shares in the company, valued at approximately $74,451.50. This represents a 80.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pamela J. Cramer sold 1,520 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $85.93, for a total value of $130,613.60. Following the completion of the sale, the insider owned 20,814 shares of the company's stock, valued at approximately $1,788,547.02. This represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,417 shares of company stock worth $6,352,511 in the last quarter. 6.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RYTM shares. Canaccord Genuity Group increased their price target on Rhythm Pharmaceuticals from $92.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Oppenheimer increased their price target on Rhythm Pharmaceuticals from $76.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Wells Fargo & Company increased their price target on Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Leerink Partners started coverage on Rhythm Pharmaceuticals in a research note on Monday, July 7th. They set an "outperform" rating and a $88.00 price target on the stock. Finally, Leerink Partnrs raised Rhythm Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 7th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $91.93.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM traded up $3.07 during trading hours on Friday, hitting $88.30. The stock had a trading volume of 666,964 shares, compared to its average volume of 673,122. The firm has a market cap of $5.62 billion, a P/E ratio of -31.42 and a beta of 2.26. The company's fifty day simple moving average is $71.41 and its 200 day simple moving average is $62.01. Rhythm Pharmaceuticals, Inc. has a 12-month low of $40.61 and a 12-month high of $94.80.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced 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). 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 during the quarter, compared to analyst estimates of $40.43 million. During the same quarter in the prior year, the company posted ($2.35) earnings per share. The firm's revenue for the quarter was up 25.9% on a year-over-year basis. As a group, sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

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.