Healthcare of Ontario Pension Plan Trust Fund Has $58.21 Million Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 14.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,111,043 shares of the company’s stock after buying an additional 143,800 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Rhythm Pharmaceuticals were worth $58,208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Perceptive Advisors LLC raised its holdings in Rhythm Pharmaceuticals by 5.4% during the 2nd quarter. Perceptive Advisors LLC now owns 3,446,579 shares of the company’s stock worth $141,517,000 after purchasing an additional 178,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in Rhythm Pharmaceuticals by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company’s stock worth $143,169,000 after purchasing an additional 77,208 shares during the last quarter. Frazier Life Sciences Management L.P. raised its holdings in Rhythm Pharmaceuticals by 8.3% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock worth $97,366,000 after purchasing an additional 181,125 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in Rhythm Pharmaceuticals by 38.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company’s stock worth $48,548,000 after purchasing an additional 326,865 shares during the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth about $33,353,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RYTM. Bank of America boosted their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and set a $69.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday. TD Cowen upped their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Needham & Company LLC upped their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.30.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM opened at $61.95 on Wednesday. The stock has a 50 day simple moving average of $53.73 and a 200 day simple moving average of $47.59. Rhythm Pharmaceuticals, Inc. has a 52-week low of $31.52 and a 52-week high of $68.58. The firm has a market capitalization of $3.81 billion, a PE ratio of -14.31 and a beta of 2.09.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued 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 return on equity of 367.36% and a negative net margin of 230.07%. The business had revenue of $33.20 million during the quarter, compared to analyst estimates of $32.52 million. During the same period in the previous year, the firm earned ($0.76) EPS. Rhythm Pharmaceuticals’s quarterly revenue was up 47.6% compared to the same quarter last year. Equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Pamela J. Cramer sold 4,099 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $50.03, for a total value of $205,072.97. Following the completion of the sale, the insider now owns 13,500 shares of the company’s stock, valued at approximately $675,405. This represents a 23.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph Shulman sold 13,281 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $66.44, for a total value of $882,389.64. The disclosure for this sale can be found here. Insiders sold a total of 138,181 shares of company stock valued at $8,359,750 in the last quarter. 5.60% of the stock is currently owned by insiders.

Rhythm Pharmaceuticals Company 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.