Handelsbanken Fonder AB Sells 1,500 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Handelsbanken Fonder AB decreased its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 8.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,521 shares of the company’s stock after selling 1,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Rhythm Pharmaceuticals were worth $981,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RYTM. Westfield Capital Management Co. LP lifted its stake in shares of Rhythm Pharmaceuticals by 21.5% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,629,468 shares of the company’s stock worth $102,966,000 after buying an additional 288,376 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in Rhythm Pharmaceuticals during the second quarter worth approximately $11,025,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Rhythm Pharmaceuticals by 2.6% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 95,517 shares of the company’s stock worth $6,036,000 after acquiring an additional 2,412 shares during the last quarter. Creative Planning boosted its holdings in shares of Rhythm Pharmaceuticals by 39.6% during the second quarter. Creative Planning now owns 17,222 shares of the company’s stock worth $1,088,000 after acquiring an additional 4,889 shares during the period. Finally, Candriam S.C.A. grew its position in shares of Rhythm Pharmaceuticals by 7.2% in the second quarter. Candriam S.C.A. now owns 312,452 shares of the company’s stock valued at $19,745,000 after purchasing an additional 20,983 shares during the last quarter.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock opened at $108.97 on Friday. Rhythm Pharmaceuticals, Inc. has a 52 week low of $45.90 and a 52 week high of $116.00. The stock has a market capitalization of $7.27 billion, a P/E ratio of -36.20 and a beta of 2.12. The stock has a fifty day moving average of $103.86 and a 200-day moving average of $88.87.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). The company had revenue of $51.30 million during the quarter, compared to analyst estimates of $50.71 million. Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%. On average, research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insider Activity

In related news, insider Joseph Shulman sold 14,437 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $112.03, for a total value of $1,617,377.11. Following the transaction, the insider directly owned 8,509 shares of the company’s stock, valued at $953,263.27. The trade was a 62.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 27,000 shares of company stock worth $3,064,490 in the last ninety days. 6.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, October 8th. Oppenheimer downgraded Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 5th. JMP Securities boosted their target price on shares of Rhythm Pharmaceuticals from $135.00 to $142.00 and gave the company a “market outperform” rating in a research report on Thursday, September 25th. The Goldman Sachs Group lowered their price target on shares of Rhythm Pharmaceuticals from $157.00 to $139.00 and set a “buy” rating on the stock in a research report on Friday, October 17th. Finally, Wall Street Zen cut shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $114.86.

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.