Hennion & Walsh Asset Management Inc. Trims Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Hennion & Walsh Asset Management Inc. decreased its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 1.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 99,447 shares of the company’s stock after selling 1,514 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Rhythm Pharmaceuticals were worth $5,567,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Castleark Management LLC boosted its position in Rhythm Pharmaceuticals by 1.3% in the 3rd quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock worth $1,009,000 after purchasing an additional 250 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after purchasing an additional 391 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at $63,000. Quest Partners LLC boosted its holdings in Rhythm Pharmaceuticals by 513.3% during the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after buying an additional 1,391 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Rhythm Pharmaceuticals by 3.5% during the second quarter. The Manufacturers Life Insurance Company now owns 49,291 shares of the company’s stock valued at $2,024,000 after buying an additional 1,667 shares during the period.

Analysts Set New Price Targets

A number of research analysts have weighed in on RYTM shares. Oppenheimer began coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective for the company. Guggenheim started coverage on Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a “buy” rating and a $70.00 price target for the company. JMP Securities reissued a “market outperform” rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. TD Cowen boosted their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.09.

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Pamela J. Cramer sold 4,688 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $65.00, for a total transaction of $304,720.00. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $877,500. This trade represents a 25.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jennifer Kayden Lee sold 66,861 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the transaction, the executive vice president now directly owns 972 shares in the company, valued at $64,472.76. This trade represents a 98.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,830 shares of company stock valued at $5,622,000. 5.60% of the stock is currently owned by insiders.

Rhythm Pharmaceuticals Stock Down 0.5 %

Shares of RYTM opened at $53.66 on Thursday. The firm’s fifty day moving average is $58.44 and its two-hundred day moving average is $52.01. The stock has a market cap of $3.30 billion, a PE ratio of -12.39 and a beta of 2.16. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. During the same quarter in the prior year, the company earned ($0.76) EPS. Rhythm Pharmaceuticals’s revenue was up 47.6% compared to the same quarter last year. As a group, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.34 earnings per share for the current year.

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.