Candriam S.C.A. Lowers Position in Rhythm Pharmaceuticals, Inc. $RYTM

Candriam S.C.A. decreased its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 29.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 221,863 shares of the company’s stock after selling 90,589 shares during the period. Candriam S.C.A. owned about 0.33% of Rhythm Pharmaceuticals worth $22,406,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Rhythm Pharmaceuticals by 4.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,568 shares of the company’s stock worth $259,000 after acquiring an additional 110 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Rhythm Pharmaceuticals by 0.7% during the second quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock worth $1,104,000 after acquiring an additional 114 shares during the period. Smartleaf Asset Management LLC boosted its position in Rhythm Pharmaceuticals by 97.2% in the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after purchasing an additional 141 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Rhythm Pharmaceuticals by 1.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,960 shares of the company’s stock worth $1,309,000 after purchasing an additional 188 shares during the period. Finally, California State Teachers Retirement System raised its position in Rhythm Pharmaceuticals by 0.5% in the second quarter. California State Teachers Retirement System now owns 42,917 shares of the company’s stock worth $2,712,000 after acquiring an additional 196 shares during the period.

Analysts Set New Price Targets

RYTM has been the subject of a number of recent research reports. The Goldman Sachs Group raised their target price on Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Needham & Company LLC boosted their target price on shares of Rhythm Pharmaceuticals from $145.00 to $148.00 and gave the company a “buy” rating in a report on Friday, January 9th. Wall Street Zen lowered Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Guggenheim boosted their price objective on Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Finally, Canaccord Genuity Group increased their price objective on Rhythm Pharmaceuticals from $114.00 to $141.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.29.

Rhythm Pharmaceuticals Trading Up 0.3%

Shares of Rhythm Pharmaceuticals stock opened at $103.97 on Tuesday. The firm has a market capitalization of $6.94 billion, a PE ratio of -33.54 and a beta of 2.00. Rhythm Pharmaceuticals, Inc. has a 12 month low of $45.90 and a 12 month high of $122.20. The business’s 50-day moving average price is $106.57 and its 200-day moving average price is $102.68.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 3,381 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $106.06, for a total transaction of $358,588.86. Following the completion of the sale, the chief financial officer directly owned 125,537 shares in the company, valued at $13,314,454.22. This represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Pamela J. Cramer sold 3,350 shares of the business’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 sale, the insider directly owned 20,814 shares of the company’s stock, valued at approximately $2,310,354. This trade represents a 13.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 9,978 shares of company stock worth $1,074,588. 6.10% of the stock is owned by corporate insiders.

About Rhythm Pharmaceuticals

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.