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

Hennion & Walsh Asset Management Inc. lessened its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 9.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,622 shares of the company's stock after selling 9,825 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.14% of Rhythm Pharmaceuticals worth $4,747,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP raised its holdings in Rhythm Pharmaceuticals by 2.3% in the 4th quarter. Two Sigma Advisers LP now owns 13,100 shares of the company's stock valued at $733,000 after acquiring an additional 300 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock valued at $25,000 after buying an additional 400 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Rhythm Pharmaceuticals by 2.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,156 shares of the company's stock valued at $1,857,000 after buying an additional 654 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $37,000. Finally, Swiss National Bank boosted its position in Rhythm Pharmaceuticals by 1.0% in the 4th quarter. Swiss National Bank now owns 90,200 shares of the company's stock valued at $5,049,000 after buying an additional 900 shares during the last quarter.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 7,031 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $65.09, for a total transaction of $457,647.79. Following the transaction, the insider now directly owns 19,209 shares of the company's stock, valued at $1,250,313.81. This represents a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Yann Mazabraud sold 75,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $51.48, for a total value of $3,861,000.00. Following the completion of the sale, the executive vice president now directly owns 40,370 shares in the company, valued at approximately $2,078,247.60. This represents a 65.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,630 shares of company stock valued at $7,107,346 over the last three months. 6.10% of the stock is currently owned by insiders.

Rhythm Pharmaceuticals Trading Up 2.9%

RYTM stock traded up $1.93 during midday trading on Friday, reaching $68.11. The company had a trading volume of 707,935 shares, compared to its average volume of 557,016. Rhythm Pharmaceuticals, Inc. has a 1 year low of $38.90 and a 1 year high of $68.58. The company has a market capitalization of $4.33 billion, a P/E ratio of -15.73 and a beta of 2.30. The company has a 50 day moving average of $60.80 and a two-hundred day moving average of $57.79.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RYTM shares. Canaccord Genuity Group increased their price objective on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. 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. Wells Fargo & Company lifted their price target on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Needham & Company LLC lifted their price target on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, HC Wainwright restated a "buy" rating and issued a $80.00 price target (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, According to MarketBeat, Rhythm Pharmaceuticals has an average rating of "Buy" and a consensus price target of $76.62.

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.