Hennion & Walsh Asset Management Inc. Has $4.75 Million Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Hennion & Walsh Asset Management Inc. reduced its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 9.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,622 shares of the company's stock after selling 9,825 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.14% of Rhythm Pharmaceuticals worth $4,747,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of RYTM. Janus Henderson Group PLC raised its position in shares of Rhythm Pharmaceuticals by 103.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company's stock valued at $68,309,000 after buying an additional 621,432 shares during the last quarter. Marshall Wace LLP lifted its position in Rhythm Pharmaceuticals by 70.4% during the 4th quarter. Marshall Wace LLP now owns 692,803 shares of the company's stock worth $38,783,000 after acquiring an additional 286,188 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Rhythm Pharmaceuticals by 24.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 685,152 shares of the company's stock worth $38,355,000 after acquiring an additional 134,622 shares during the period. Hood River Capital Management LLC grew its position in Rhythm Pharmaceuticals by 4.7% in the fourth quarter. Hood River Capital Management LLC now owns 643,691 shares of the company's stock valued at $36,034,000 after acquiring an additional 29,093 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Rhythm Pharmaceuticals by 9.4% during the fourth quarter. Northern Trust Corp now owns 545,314 shares of the company's stock valued at $30,527,000 after purchasing an additional 46,848 shares during the period.

Insider Activity

In other news, insider Pamela J. Cramer sold 20,760 shares of the company's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $60.14, for a total transaction of $1,248,506.40. Following the completion of the transaction, the insider now directly owns 19,209 shares of the company's stock, valued at $1,155,229.26. This represents a 51.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Yann Mazabraud sold 6,745 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $65.08, for a total value of $438,964.60. Following the completion of the sale, the executive vice president now directly owns 37,655 shares in the company, valued at approximately $2,450,587.40. This represents a 15.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,630 shares of company stock worth $7,107,346 in the last 90 days. Corporate insiders own 6.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RYTM shares. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price target (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Stifel Nicolaus increased their price target on shares of Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Canaccord Genuity Group lifted their target price on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. Bank of America raised Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target on the stock in a research report on Monday, April 7th. Finally, Needham & Company LLC lifted their price objective on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $76.62.

Rhythm Pharmaceuticals Trading Up 2.8%

Shares of NASDAQ:RYTM traded up $1.79 during mid-day trading on Thursday, reaching $66.18. The stock had a trading volume of 690,895 shares, compared to its average volume of 556,229. The firm has a market cap of $4.21 billion, a PE ratio of -15.28 and a beta of 2.36. The firm has a 50 day simple moving average of $60.17 and a two-hundred day simple moving average of $57.69. Rhythm Pharmaceuticals, Inc. has a twelve month low of $38.82 and a twelve month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm had revenue of $37.72 million during the quarter, compared to the consensus estimate of $40.43 million. During the same quarter in the prior year, the company earned ($2.35) EPS. Rhythm Pharmaceuticals's quarterly revenue was up 25.9% on a year-over-year basis. On average, equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

About Rhythm Pharmaceuticals

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.