Altium Capital Management LP lessened its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 53.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,840 shares of the company’s stock after selling 118,160 shares during the quarter. Altium Capital Management LP owned about 0.21% of Rhythm Pharmaceuticals worth $2,053,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of RYTM. Marshall Wace North America L.P. acquired a new position in Rhythm Pharmaceuticals in the 1st quarter worth approximately $33,000. HM Payson & Co. increased its holdings in Rhythm Pharmaceuticals by 231.6% in the 1st quarter. HM Payson & Co. now owns 1,701 shares of the company’s stock worth $36,000 after buying an additional 1,188 shares during the period. Sierra Capital LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the 1st quarter worth approximately $77,000. Royal Bank of Canada grew its stake in shares of Rhythm Pharmaceuticals by 482.4% during the 1st quarter. Royal Bank of Canada now owns 3,815 shares of the company’s stock worth $81,000 after purchasing an additional 3,160 shares during the period. Finally, E Fund Management Co. Ltd. acquired a new stake in shares of Rhythm Pharmaceuticals during the 1st quarter worth approximately $108,000. Institutional investors own 94.50% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Morgan Stanley dropped their price objective on shares of Rhythm Pharmaceuticals from $57.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 4th. Bank of America cut shares of Rhythm Pharmaceuticals from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $33.00 to $17.00 in a research note on Wednesday, August 4th. LADENBURG THALM/SH SH lowered Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 4th. The Goldman Sachs Group upgraded Rhythm Pharmaceuticals to a “hold” rating and set a $14.00 target price on the stock in a research report on Tuesday, September 14th. Finally, Zacks Investment Research lowered Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, August 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.00.
Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, August 3rd. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.05. The firm had revenue of $0.27 million during the quarter. On average, analysts expect that Rhythm Pharmaceuticals, Inc. will post -2.14 EPS for the current year.
About Rhythm Pharmaceuticals
Rhythm Pharmaceuticals, Inc is a biopharmaceutical company, which engages in developing and commercializing peptide therapeutics for the treatment of gastrointestinal diseases and genetic deficiencies. The firm focuses on the treatment for Prader-Willi Syndrome and Pro-Opiomelanocortin deficiency obesity.
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