Hennion & Walsh Asset Management Inc. Trims Stock Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Hennion & Walsh Asset Management Inc. lowered its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 75.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,908 shares of the company’s stock after selling 33,823 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Rhythm Pharmaceuticals were worth $1,168,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in shares of Rhythm Pharmaceuticals by 97.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after purchasing an additional 141 shares during the period. Farther Finance Advisors LLC boosted its stake in Rhythm Pharmaceuticals by 1,110.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock worth $35,000 after purchasing an additional 322 shares during the period. Optiver Holding B.V. boosted its stake in Rhythm Pharmaceuticals by 65.2% in the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock worth $37,000 after purchasing an additional 144 shares during the period. GAMMA Investing LLC grew its holdings in Rhythm Pharmaceuticals by 48.6% during 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 in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in Rhythm Pharmaceuticals by 65.9% during the 2nd quarter. Osaic Holdings Inc. now owns 979 shares of the company’s stock valued at $62,000 after buying an additional 389 shares in the last quarter.

Insiders Place Their Bets

In other news, CAO Christopher Paul German sold 5,614 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $89.56, for a total value of $502,789.84. Following the completion of the transaction, the chief accounting officer directly owned 160 shares in the company, valued at approximately $14,329.60. This represents a 97.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Hunter C. Smith sold 4,385 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $101.26, for a total value of $444,025.10. Following the transaction, the chief financial officer owned 110,512 shares in the company, valued at $11,190,445.12. This trade represents a 3.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 27,267 shares of company stock worth $2,719,955. 6.10% of the stock is owned by insiders.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $86.29 on Friday. Rhythm Pharmaceuticals, Inc. has a 1 year low of $45.90 and a 1 year high of $122.20. The firm has a market cap of $5.89 billion, a PE ratio of -27.75 and a beta of 2.14. The company has a 50 day simple moving average of $94.96 and a two-hundred day simple moving average of $101.38.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.06. Rhythm Pharmaceuticals had a negative net margin of 103.57% and a negative return on equity of 266.56%. The firm had revenue of $57.25 million for the quarter, compared to analysts’ expectations of $56.16 million. During the same quarter last year, the company posted ($0.72) EPS. The business’s quarterly revenue was up 36.9% on a year-over-year basis. As a group, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RYTM shares. Guggenheim increased their price target on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Wells Fargo & Company upped their target price on shares of Rhythm Pharmaceuticals from $136.00 to $143.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. TD Cowen reissued a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, December 11th. Canaccord Genuity Group reduced their price target on shares of Rhythm Pharmaceuticals from $141.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $125.00 price target on shares of Rhythm Pharmaceuticals in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $131.13.

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.