Rhythm Pharmaceuticals (NASDAQ:RYTM) Trading Down 3.3% – What’s Next?

by · The Cerbat Gem

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTMGet Free Report) fell 3.3% during mid-day trading on Tuesday . The company traded as low as $109.31 and last traded at $108.8750. 248,322 shares traded hands during trading, a decline of 64% from the average session volume of 680,928 shares. The stock had previously closed at $112.55.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RYTM shares. Citizens Jmp raised their target price on Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the stock a “market outperform” rating in a research report on Friday, December 12th. Citigroup reissued an “outperform” rating on shares of Rhythm Pharmaceuticals in a report on Friday, December 12th. JMP Securities upped their target price on shares of Rhythm Pharmaceuticals from $135.00 to $142.00 and gave the company a “market outperform” rating in a report on Thursday, September 25th. Wall Street Zen downgraded shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $126.47.

Check Out Our Latest Research Report on Rhythm Pharmaceuticals

Rhythm Pharmaceuticals Stock Up 0.3%

The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of -34.53 and a beta of 1.96. The firm has a fifty day moving average of $106.96 and a 200-day moving average of $96.53.

Rhythm Pharmaceuticals (NASDAQ:RYTMGet Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). Rhythm Pharmaceuticals had a negative net margin of 110.32% and a negative return on equity of 433.21%. The company had revenue of $51.30 million for the quarter, compared to analyst estimates of $50.71 million. As a group, research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 3,350 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $111.00, for a total value of $371,850.00. Following the completion of the transaction, the insider directly owned 20,814 shares of the company’s stock, valued at $2,310,354. This represents a 13.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph Shulman sold 14,437 shares of the firm’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $112.03, for a total value of $1,617,377.11. Following the sale, the insider owned 8,509 shares of the company’s stock, valued at $953,263.27. This represents a 62.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,350 shares of company stock valued at $3,436,340 over the last 90 days. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RYTM. Vanguard Group Inc. raised its stake in shares of Rhythm Pharmaceuticals by 39.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,996,427 shares of the company’s stock valued at $504,589,000 after purchasing an additional 1,407,313 shares in the last quarter. Alliancebernstein L.P. lifted its position in Rhythm Pharmaceuticals by 1,493.8% in the 3rd quarter. Alliancebernstein L.P. now owns 979,682 shares of the company’s stock valued at $98,938,000 after purchasing an additional 918,212 shares during the last quarter. JPMorgan Chase & Co. grew its position in Rhythm Pharmaceuticals by 445.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 783,559 shares of the company’s stock worth $49,513,000 after purchasing an additional 639,919 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of Rhythm Pharmaceuticals in the third quarter valued at approximately $60,417,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Rhythm Pharmaceuticals during the second quarter worth approximately $21,548,000.

About Rhythm Pharmaceuticals

(Get Free Report)

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.

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