SG Americas Securities LLC Has $1.98 Million Stock Position in Rhythm Pharmaceuticals, Inc. $RYTM

SG Americas Securities LLC grew its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 216.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,554 shares of the company’s stock after acquiring an additional 13,369 shares during the quarter. SG Americas Securities LLC’s holdings in Rhythm Pharmaceuticals were worth $1,975,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RYTM. Norges Bank acquired a new stake in Rhythm Pharmaceuticals in the 2nd quarter worth about $13,105,000. Intech Investment Management LLC increased its holdings in shares of Rhythm Pharmaceuticals by 20.7% during the first quarter. Intech Investment Management LLC now owns 33,893 shares of the company’s stock worth $1,795,000 after purchasing an additional 5,801 shares during the period. Alkeon Capital Management LLC raised its position in shares of Rhythm Pharmaceuticals by 24.5% in the second quarter. Alkeon Capital Management LLC now owns 1,017,700 shares of the company’s stock valued at $64,308,000 after buying an additional 200,000 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 12.0% in the second quarter. Harbor Capital Advisors Inc. now owns 86,546 shares of the company’s stock valued at $5,469,000 after buying an additional 9,249 shares during the period. Finally, Toth Financial Advisory Corp bought a new stake in shares of Rhythm Pharmaceuticals in the second quarter valued at approximately $632,000.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Citigroup restated an “outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, December 12th. Wall Street Zen downgraded Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Guggenheim upped their price objective on shares of Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. JMP Securities raised 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. Finally, Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $130.00.

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 9,748 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $115.24, for a total transaction of $1,123,359.52. Following the completion of the transaction, the insider directly owned 8,509 shares in the company, valued at $980,577.16. This represents a 53.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pamela J. Cramer sold 3,350 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $111.00, for a total transaction of $371,850.00. Following the completion of the transaction, the insider directly owned 20,814 shares of the company’s stock, valued at approximately $2,310,354. The trade was a 13.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,913 shares of company stock worth $1,818,963 over the last ninety days. 6.10% of the stock is currently owned by insiders.

Rhythm Pharmaceuticals Stock Up 5.1%

Shares of RYTM stock opened at $113.34 on Thursday. Rhythm Pharmaceuticals, Inc. has a twelve month low of $45.90 and a twelve month high of $122.20. The company has a market cap of $7.56 billion, a P/E ratio of -36.56 and a beta of 2.00. The business has a fifty day simple moving average of $105.70 and a 200 day simple moving average of $99.45.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, November 4th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). The business had revenue of $51.30 million during the quarter, compared to the consensus estimate of $50.71 million. Rhythm Pharmaceuticals had a negative net margin of 110.32% and a negative return on equity of 433.21%. As a group, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Rhythm Pharmaceuticals Profile

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.