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Healthcare of Ontario Pension Plan Trust Fund Has $6.98 Million Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Rhythm Pharmaceuticals logo with Medical background

Healthcare of Ontario Pension Plan Trust Fund lowered its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 14.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 151,843 shares of the company's stock after selling 25,157 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.25% of Rhythm Pharmaceuticals worth $6,980,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new position in shares of Rhythm Pharmaceuticals during the 3rd quarter worth approximately $460,000. New York State Common Retirement Fund lifted its holdings in Rhythm Pharmaceuticals by 2.7% in the third quarter. New York State Common Retirement Fund now owns 20,641 shares of the company's stock valued at $473,000 after acquiring an additional 541 shares during the period. Swiss National Bank boosted its position in shares of Rhythm Pharmaceuticals by 1.1% during the 3rd quarter. Swiss National Bank now owns 99,900 shares of the company's stock worth $2,290,000 after purchasing an additional 1,100 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Rhythm Pharmaceuticals by 9.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 384,748 shares of the company's stock worth $8,820,000 after purchasing an additional 34,189 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Rhythm Pharmaceuticals by 13.3% in the third quarter. Deutsche Bank AG now owns 27,452 shares of the company's stock valued at $629,000 after purchasing an additional 3,227 shares during the period.


Insider Activity

In related news, insider Joseph Shulman sold 3,984 shares of the firm's stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $38.47, for a total value of $153,264.48. Following the sale, the insider now directly owns 30 shares of the company's stock, valued at $1,154.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 22,587 shares of company stock valued at $904,232 in the last 90 days. 5.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

RYTM has been the topic of several recent analyst reports. Needham & Company LLC lowered their target price on shares of Rhythm Pharmaceuticals from $50.00 to $46.00 and set a "buy" rating on the stock in a research report on Tuesday, May 7th. Canaccord Genuity Group reduced their price objective on Rhythm Pharmaceuticals from $80.00 to $79.00 and set a "buy" rating for the company in a report on Wednesday, May 8th. Wells Fargo & Company dropped their price target on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an "overweight" rating for the company in a research report on Thursday, April 18th. Finally, Bank of America lowered shares of Rhythm Pharmaceuticals from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $49.00 to $42.00 in a research report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $54.33.

Read Our Latest Stock Analysis on Rhythm Pharmaceuticals

Rhythm Pharmaceuticals Price Performance

RYTM stock traded up $0.23 during midday trading on Tuesday, hitting $41.39. The stock had a trading volume of 345,652 shares, compared to its average volume of 602,044. The company's 50-day moving average price is $39.50 and its 200 day moving average price is $41.98. The firm has a market cap of $2.52 billion, a PE ratio of -8.94 and a beta of 1.94. Rhythm Pharmaceuticals, Inc. has a 12-month low of $15.50 and a 12-month high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($2.35) EPS for the quarter, missing analysts' consensus estimates of ($2.34) by ($0.01). Rhythm Pharmaceuticals had a negative net margin of 297.91% and a negative return on equity of 179.26%. The business had revenue of $26.00 million during the quarter, compared to analysts' expectations of $26.90 million. During the same period in the prior year, the firm earned ($0.92) EPS. Rhythm Pharmaceuticals's revenue for the quarter was up 126.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS for the current year.

Rhythm Pharmaceuticals Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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