BNP Paribas Financial Markets Boosts Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

BNP Paribas Financial Markets grew its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 307.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,425 shares of the company's stock after purchasing an additional 10,882 shares during the period. BNP Paribas Financial Markets' holdings in Rhythm Pharmaceuticals were worth $756,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company's stock valued at $27,000 after purchasing an additional 253 shares during the period. ORG Partners LLC bought a new position in shares of Rhythm Pharmaceuticals during the 2nd quarter worth $51,000. ORG Wealth Partners LLC purchased a new position in shares of Rhythm Pharmaceuticals during the third quarter valued at $63,000. Quest Partners LLC raised its holdings in shares of Rhythm Pharmaceuticals by 513.3% in the second quarter. Quest Partners LLC now owns 1,662 shares of the company's stock valued at $68,000 after acquiring an additional 1,391 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company's stock worth $114,000 after acquiring an additional 391 shares during the period.

Analyst Ratings Changes

Several research firms have recently commented on RYTM. Needham & Company LLC boosted their price target on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. The Goldman Sachs Group boosted their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Bank of America increased their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Guggenheim initiated coverage on Rhythm Pharmaceuticals in a research note on Monday, October 21st. They set a "buy" rating and a $70.00 price objective for the company. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $63.70.

Insider Buying and Selling

In other news, EVP Jennifer Kayden Lee sold 66,861 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $66.33, for a total value of $4,434,890.13. Following the sale, the executive vice president now owns 972 shares in the company, valued at $64,472.76. This represents a 98.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Shulman sold 13,281 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $66.44, for a total value of $882,389.64. The disclosure for this sale can be found here. Insiders sold 116,581 shares of company stock valued at $7,285,752 over the last quarter. 5.60% of the stock is currently owned by company insiders.

Rhythm Pharmaceuticals Trading Down 2.6 %

Shares of NASDAQ RYTM traded down $1.47 during midday trading on Thursday, reaching $55.68. The company had a trading volume of 439,999 shares, compared to its average volume of 544,258. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The business's 50-day simple moving average is $55.41 and its 200 day simple moving average is $49.15. The stock has a market cap of $3.42 billion, a P/E ratio of -13.20 and a beta of 2.14.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.80) by $0.07. The company had revenue of $33.20 million during the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm's quarterly revenue was up 47.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.76) EPS. Analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.36 earnings per share for the current year.

Rhythm Pharmaceuticals 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.