Swiss National Bank Has $5.05 Million Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Swiss National Bank increased its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 90,200 shares of the company’s stock after purchasing an additional 900 shares during the quarter. Swiss National Bank’s holdings in Rhythm Pharmaceuticals were worth $5,049,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Loomis Sayles & Co. L P bought a new position in Rhythm Pharmaceuticals in the third quarter worth approximately $33,353,000. Alkeon Capital Management LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 16.8% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock worth $61,176,000 after purchasing an additional 167,700 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Rhythm Pharmaceuticals by 14.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock valued at $58,208,000 after purchasing an additional 143,800 shares during the period. Barclays PLC increased its stake in Rhythm Pharmaceuticals by 79.6% during the 3rd quarter. Barclays PLC now owns 106,397 shares of the company’s stock valued at $5,574,000 after purchasing an additional 47,166 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. increased its stake in Rhythm Pharmaceuticals by 1.9% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock valued at $126,624,000 after purchasing an additional 45,648 shares in the last quarter.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM stock opened at $53.72 on Tuesday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -12.41 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58. The firm’s 50-day simple moving average is $55.28 and its two-hundred day simple moving average is $54.99.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm had revenue of $41.83 million during the quarter, compared to analysts’ expectations of $38.48 million. Analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RYTM shares. Needham & Company LLC lifted their price objective on shares of Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. The Goldman Sachs Group lifted their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Oppenheimer started coverage on Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective for the company. Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 target price on the stock. Finally, Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They set a “buy” rating and a $78.00 price target for the company. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.46.

Insider Activity

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 75,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the sale, the executive vice president now owns 40,370 shares in the company, valued at $2,078,247.60. This represents a 65.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $76,129.83. Following the completion of the transaction, the insider now owns 2,657 shares of the company’s stock, valued at approximately $157,905.51. This trade represents a 32.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 108,131 shares of company stock valued at $5,781,098 in the last 90 days. Insiders own 5.60% of the company’s stock.

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.