Hsbc Holdings PLC Takes $921,000 Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Hsbc Holdings PLC purchased a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,287 shares of the company's stock, valued at approximately $921,000.

Several other institutional investors also recently added to or reduced their stakes in RYTM. SRS Capital Advisors Inc. grew its position in shares of Rhythm Pharmaceuticals by 740.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock worth $25,000 after acquiring an additional 400 shares during the last quarter. Raleigh Capital Management Inc. purchased a new position in Rhythm Pharmaceuticals during the 4th quarter worth $28,000. SBI Securities Co. Ltd. acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at $37,000. R Squared Ltd acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at $44,000. Finally, KBC Group NV raised its holdings in shares of Rhythm Pharmaceuticals by 78.2% in the fourth quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after buying an additional 988 shares during the last quarter.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 794 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $57.51, for a total value of $45,662.94. Following the sale, the insider now directly owns 6 shares of the company's stock, valued at $345.06. This trade represents a 99.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Yann Mazabraud sold 75,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the transaction, the executive vice president now directly owns 40,370 shares of the company's stock, valued at $2,078,247.60. The trade was a 65.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 151,733 shares of company stock valued at $8,492,699. Company insiders own 5.60% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Canaccord Genuity Group boosted their price target on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Needham & Company LLC boosted their target price on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday. Morgan Stanley restated an "overweight" rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. 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. Finally, Wells Fargo & Company boosted their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $75.38.

Rhythm Pharmaceuticals Stock Down 5.5 %

Shares of RYTM stock traded down $3.35 during mid-day trading on Friday, reaching $57.37. The company's stock had a trading volume of 895,480 shares, compared to its average volume of 548,139. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The company's 50 day simple moving average is $56.95 and its 200-day simple moving average is $57.05. The firm has a market capitalization of $3.65 billion, a PE ratio of -13.25 and a beta of 2.36.

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

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.