Strs Ohio Grows Stock Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Strs Ohio grew its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 140.9% in the first quarter, Holdings Channel reports. The fund owned 28,914 shares of the company’s stock after purchasing an additional 16,914 shares during the period. Strs Ohio’s holdings in Rhythm Pharmaceuticals were worth $2,515,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Xponance LLC grew its holdings in shares of Rhythm Pharmaceuticals by 2.6% in the fourth quarter. Xponance LLC now owns 4,269 shares of the company’s stock valued at $457,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Rhythm Pharmaceuticals by 39.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after purchasing an additional 113 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Rhythm Pharmaceuticals by 0.7% in the 2nd quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock valued at $1,104,000 after purchasing an additional 114 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Rhythm Pharmaceuticals by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after buying an additional 118 shares during the period. Finally, SBI Securities Co. Ltd. grew its stake in shares of Rhythm Pharmaceuticals by 73.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 145 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Citizens Jmp lowered their price objective on Rhythm Pharmaceuticals from $176.00 to $152.00 and set a “market outperform” rating for the company in a research report on Tuesday, March 17th. Canaccord Genuity Group raised their target price on Rhythm Pharmaceuticals from $143.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Wall Street Zen upgraded Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 3rd. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.40.

Insider Activity

In related news, Director Lynn A. Tetrault sold 37,000 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $100.32, for a total value of $3,711,840.00. Following the completion of the sale, the director directly owned 7,000 shares of the company’s stock, valued at $702,240. The trade was a 84.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.90% of the company’s stock.

Rhythm Pharmaceuticals Stock Up 0.5%

NASDAQ RYTM traded up $0.55 on Tuesday, hitting $112.23. 222,504 shares of the stock were exchanged, compared to its average volume of 808,010. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $64.65 and a fifty-two week high of $122.20. The company has a 50-day moving average price of $93.75 and a 200-day moving average price of $95.92. The company has a market cap of $7.69 billion, a PE ratio of -36.03 and a beta of 1.88.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The company had revenue of $60.11 million for the quarter, compared to analysts’ expectations of $55.78 million. During the same period last year, the firm earned ($0.81) earnings per share. Rhythm Pharmaceuticals’s quarterly revenue was up 83.8% on a year-over-year basis. As a group, equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -3.11 EPS 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.