Goldman Sachs Group Inc. Sells 62,797 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Goldman Sachs Group Inc. lessened its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,830,866 shares of the company’s stock after selling 62,797 shares during the quarter. Goldman Sachs Group Inc. owned approximately 2.74% of Rhythm Pharmaceuticals worth $195,976,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 24.3% in the 4th quarter. Vanguard Group Inc. now owns 6,210,916 shares of the company’s stock worth $664,816,000 after purchasing an additional 1,214,489 shares during the period. RA Capital Management L.P. raised its holdings in shares of Rhythm Pharmaceuticals by 2.2% in the 3rd quarter. RA Capital Management L.P. now owns 5,681,359 shares of the company’s stock worth $573,760,000 after purchasing an additional 120,000 shares during the period. Geode Capital Management LLC raised its holdings in shares of Rhythm Pharmaceuticals by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,375,729 shares of the company’s stock worth $147,283,000 after purchasing an additional 12,900 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Rhythm Pharmaceuticals by 51.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,188,069 shares of the company’s stock worth $119,983,000 after purchasing an additional 404,510 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Rhythm Pharmaceuticals by 1,493.8% in the 3rd quarter. Alliancebernstein L.P. now owns 979,682 shares of the company’s stock worth $98,938,000 after purchasing an additional 918,212 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RYTM shares. Stifel Nicolaus set a $131.00 price target on shares of Rhythm Pharmaceuticals in a report on Thursday, February 26th. Canaccord Genuity Group boosted their target price on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the company a “buy” rating in a report on Thursday, May 7th. HC Wainwright lowered their target price on shares of Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Wells Fargo & Company boosted their target price on shares of Rhythm Pharmaceuticals from $143.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $125.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $131.81.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock opened at $86.40 on Friday. The company’s fifty day simple moving average is $87.45 and its two-hundred day simple moving average is $96.82. Rhythm Pharmaceuticals, Inc. has a 1 year low of $60.70 and a 1 year high of $122.20. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of -27.60 and a beta of 1.91.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The business had revenue of $60.11 million for the quarter, compared to analysts’ expectations of $55.78 million. During the same quarter in the previous year, the firm posted ($0.81) EPS. The business’s revenue for the quarter was up 83.8% compared to the same quarter last year. Equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -3.07 EPS for the current year.

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.