Northern Trust Corp Has $30.53 Million Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Northern Trust Corp grew its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 545,314 shares of the company's stock after purchasing an additional 46,848 shares during the period. Northern Trust Corp owned about 0.89% of Rhythm Pharmaceuticals worth $30,527,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. SRS Capital Advisors Inc. increased its stake in Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock valued at $25,000 after buying an additional 400 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at about $37,000. R Squared Ltd bought a new stake in Rhythm Pharmaceuticals during the fourth quarter worth about $44,000. Finally, KBC Group NV boosted its position in Rhythm Pharmaceuticals by 78.2% during the fourth quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after purchasing an additional 988 shares during the last quarter.

Wall Street Analysts Forecast Growth

RYTM has been the topic of several recent analyst reports. Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They set a "buy" rating and a $78.00 price target on the stock. Canaccord Genuity Group upped their price target on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. HC Wainwright reissued a "buy" rating and issued a $80.00 price objective (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Bank of America raised shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price on the stock in a report on Monday, April 7th. Finally, Needham & Company LLC lifted their price target on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rhythm Pharmaceuticals currently has a consensus rating of "Buy" and an average price target of $75.38.

Rhythm Pharmaceuticals Trading Down 5.5 %

NASDAQ:RYTM opened at $57.37 on Friday. The stock has a 50 day simple moving average of $56.95 and a 200 day simple moving average of $57.05. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The stock has a market cap of $3.65 billion, a P/E ratio of -13.25 and a beta of 2.36.

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

Insiders Place Their Bets

In other news, insider Pamela J. Cramer sold 20,760 shares of the company's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $60.14, for a total transaction of $1,248,506.40. Following the completion of the sale, the insider now directly owns 19,209 shares in the company, valued at approximately $1,155,229.26. This represents a 51.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Yann Mazabraud sold 75,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $51.48, for a total value of $3,861,000.00. Following the sale, the executive vice president now directly owns 40,370 shares in the company, valued at approximately $2,078,247.60. This trade represents a 65.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 151,733 shares of company stock worth $8,492,699 in the last quarter. Corporate insiders own 5.60% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.