American Century Companies Inc. Sells 20,484 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• American Century Companies Inc. reduced its stake in Rhythm Pharmaceuticals by 60.7%, now holding 13,282 shares valued at $704,000 after selling 20,484 shares in the first quarter.
• Rhythm Pharmaceuticals' CFO, Hunter C. Smith, sold 42,120 shares for approximately $3.39 million, representing a 26.48% decrease in his holdings.
• Wall Street analysts have generally rated Rhythm Pharmaceuticals as a "Buy" or "Outperform", with price targets ranging from $88.00 to $129.00 per share.

American Century Companies Inc. decreased its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 60.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,282 shares of the company's stock after selling 20,484 shares during the period. American Century Companies Inc.'s holdings in Rhythm Pharmaceuticals were worth $704,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Federated Hermes Inc. raised its stake in shares of Rhythm Pharmaceuticals by 2.7% in the first quarter. Federated Hermes Inc. now owns 1,591,871 shares of the company's stock valued at $84,321,000 after buying an additional 42,236 shares during the period. Westfield Capital Management Co. LP purchased a new position in Rhythm Pharmaceuticals in the 1st quarter valued at approximately $71,038,000. Janus Henderson Group PLC raised its holdings in Rhythm Pharmaceuticals by 103.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company's stock valued at $68,309,000 after acquiring an additional 621,432 shares during the period. Northern Trust Corp lifted its position 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 worth $30,527,000 after acquiring an additional 46,848 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Rhythm Pharmaceuticals by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 445,429 shares of the company's stock worth $23,594,000 after purchasing an additional 5,179 shares in the last quarter.

Wall Street Analysts Forecast Growth

RYTM has been the topic of several research reports. Morgan Stanley reissued an "overweight" rating and set a $109.00 price target (up from $100.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, August 5th. Guggenheim increased their target price on shares of Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Canaccord Genuity Group increased their price objective on Rhythm Pharmaceuticals from $92.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Stifel Nicolaus upped their target price on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $101.57.

Rhythm Pharmaceuticals Price Performance

RYTM stock traded down $1.17 during midday trading on Wednesday, hitting $100.27. The stock had a trading volume of 520,253 shares, compared to its average volume of 547,031. The business has a 50-day moving average of $92.15 and a two-hundred day moving average of $70.39. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of -33.31 and a beta of 2.23. Rhythm Pharmaceuticals, Inc. has a 52-week low of $45.90 and a 52-week high of $106.52.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.75) EPS for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.09). The business had revenue of $48.50 million for the quarter, compared to the consensus estimate of $43.72 million. Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%. The business's quarterly revenue was up 66.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.55) EPS. Research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 1,500 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $95.00, for a total transaction of $142,500.00. Following the completion of the sale, the chief accounting officer directly owned 922 shares in the company, valued at approximately $87,590. This trade represents a 61.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Hunter C. Smith sold 3,477 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $96.00, for a total transaction of $333,792.00. Following the completion of the transaction, the chief financial officer directly owned 116,915 shares of the company's stock, valued at $11,223,840. This trade represents a 2.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,077 shares of company stock valued at $9,360,077. 6.10% of the stock is owned by company insiders.

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.