Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI lifted its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 82.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,000 shares of the company's stock after acquiring an additional 108,000 shares during the quarter. National Bank of Canada FI owned 0.40% of Rhythm Pharmaceuticals worth $10,786,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RYTM. AJOVista LLC purchased a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter valued at about $42,000. Nisa Investment Advisors LLC grew its position in Rhythm Pharmaceuticals by 91.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,256 shares of the company's stock worth $58,000 after purchasing an additional 600 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Rhythm Pharmaceuticals by 95.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,458 shares of the company's stock valued at $33,000 after buying an additional 713 shares during the last quarter. Whittier Trust Co. acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $92,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Rhythm Pharmaceuticals by 253.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,260 shares of the company's stock worth $52,000 after buying an additional 1,620 shares during the last quarter.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 791 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 $40,641.58. Following the sale, the insider now owns 3,457 shares of the company's stock, valued at $177,620.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 1,594 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $51.38, for a total transaction of $81,899.72. Following the transaction, the executive vice president now owns 7,702 shares of the company's stock, valued at $395,728.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Joseph Shulman sold 791 shares of Rhythm Pharmaceuticals stock in a transaction on Monday, February 12th. The shares were sold at an average price of $51.38, for a total transaction of $40,641.58. Following the completion of the transaction, the insider now owns 3,457 shares in the company, valued at approximately $177,620.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,069 shares of company stock valued at $7,626,355. Insiders own 4.70% of the company's stock.

Wall Street Analysts Forecast Growth

RYTM has been the subject of several recent research reports. Canaccord Genuity Group reduced their price target on Rhythm Pharmaceuticals from $80.00 to $79.00 and set a "buy" rating for the company in a research report on Wednesday. The Goldman Sachs Group increased their price target on shares of Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Wells Fargo & Company cut their price objective on shares of Rhythm Pharmaceuticals from $53.00 to $52.00 and set an "overweight" rating for the company in a report on Thursday, April 18th. Bank of America cut Rhythm Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their target price for the company from $49.00 to $42.00 in a research report on Wednesday. Finally, Needham & Company LLC reduced their price target on Rhythm Pharmaceuticals from $50.00 to $46.00 and set a "buy" rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $54.33.

Rhythm Pharmaceuticals Trading Down 1.1 %

RYTM traded down $0.42 during midday trading on Thursday, hitting $38.50. 467,414 shares of the company traded hands, compared to its average volume of 639,026. Rhythm Pharmaceuticals, Inc. has a 52-week low of $15.50 and a 52-week high of $52.57. The business has a 50 day simple moving average of $40.68 and a two-hundred day simple moving average of $39.85. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -8.27 and a beta of 1.94.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($2.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.34) by ($0.01). Rhythm Pharmaceuticals had a negative return on equity of 96.02% and a negative net margin of 238.50%. The firm had revenue of $26.00 million during the quarter, compared to analyst estimates of $26.90 million. During the same period in the prior year, the firm earned ($0.92) earnings per share. The business's revenue was up 126.1% on a year-over-year basis. Equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.02 earnings per share for the current 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.