SG Americas Securities LLC Lowers Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

SG Americas Securities LLC reduced its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 83.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,500 shares of the company's stock after selling 37,374 shares during the period. SG Americas Securities LLC's holdings in Rhythm Pharmaceuticals were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RYTM. State Street Corp raised its holdings in Rhythm Pharmaceuticals by 1,145.9% in the 3rd quarter. State Street Corp now owns 3,127,905 shares of the company's stock valued at $76,634,000 after acquiring an additional 2,876,846 shares in the last quarter. BlackRock Inc. raised its holdings in Rhythm Pharmaceuticals by 65.7% in the 2nd quarter. BlackRock Inc. now owns 6,265,005 shares of the company's stock valued at $103,310,000 after acquiring an additional 2,484,406 shares in the last quarter. Federated Hermes Inc. raised its holdings in Rhythm Pharmaceuticals by 80.7% in the 1st quarter. Federated Hermes Inc. now owns 5,065,113 shares of the company's stock valued at $58,350,000 after acquiring an additional 2,261,778 shares in the last quarter. Braidwell LP acquired a new position in Rhythm Pharmaceuticals in the 2nd quarter valued at $13,903,000. Finally, Geode Capital Management LLC increased its stake in shares of Rhythm Pharmaceuticals by 105.9% in the 2nd quarter. Geode Capital Management LLC now owns 973,350 shares of the company's stock valued at $16,051,000 after purchasing an additional 500,589 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have recently issued reports on RYTM. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price target on shares of Rhythm Pharmaceuticals in a research note on Thursday, February 22nd. Wells Fargo & Company lifted their price target on Rhythm Pharmaceuticals from $48.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday, December 19th. Morgan Stanley upgraded Rhythm Pharmaceuticals from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $29.00 to $55.00 in a research note on Tuesday, December 19th. Finally, The Goldman Sachs Group lifted their price target on Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, January 25th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Rhythm Pharmaceuticals presently has an average rating of "Buy" and an average price target of $47.40.

Rhythm Pharmaceuticals Price Performance

RYTM stock traded up $1.26 during midday trading on Monday, reaching $41.80. 352,339 shares of the stock were exchanged, compared to its average volume of 649,423. The stock has a market capitalization of $2.51 billion, a PE ratio of -13.06 and a beta of 1.90. Rhythm Pharmaceuticals, Inc. has a 52 week low of $15.50 and a 52 week high of $52.57. The company has a fifty day moving average price of $43.93 and a 200 day moving average price of $37.34.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.70) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.70). The business had revenue of $24.23 million for the quarter, compared to analyst estimates of $25.38 million. Rhythm Pharmaceuticals had a negative return on equity of 96.02% and a negative net margin of 238.50%. Rhythm Pharmaceuticals's quarterly revenue was up 175.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.75) EPS. As a group, analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 1,594 shares of the company's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $51.38, for a total value of $81,899.72. Following the sale, the executive vice president now owns 7,702 shares in the company, valued at approximately $395,728.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 18,235 shares of the company's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $40.34, for a total value of $735,599.90. Following the sale, the insider now owns 30 shares in the company, valued at approximately $1,210.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Yann Mazabraud sold 1,594 shares of the company's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $51.38, for a total value of $81,899.72. Following the completion of the sale, the executive vice president now owns 7,702 shares in the company, valued at approximately $395,728.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 172,069 shares of company stock worth $7,626,355. Insiders own 4.70% of the company's stock.

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.