Cibc World Markets Corp Makes New $287,000 Investment in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Cibc World Markets Corp bought a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,123 shares of the company's stock, valued at approximately $287,000.

A number of other large investors also recently bought and sold shares of RYTM. SRS Capital Advisors Inc. lifted its holdings in Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock valued at $25,000 after purchasing an additional 400 shares in the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. purchased a new position in Rhythm Pharmaceuticals during the fourth quarter worth approximately $37,000. R Squared Ltd acquired a new position in Rhythm Pharmaceuticals during the fourth quarter worth $44,000. Finally, KBC Group NV raised its holdings in shares of Rhythm Pharmaceuticals by 78.2% during the 4th quarter. KBC Group NV now owns 2,251 shares of the company's stock worth $126,000 after acquiring an additional 988 shares during the period.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock traded up $1.31 during trading hours on Friday, reaching $54.80. The company had a trading volume of 416,136 shares, compared to its average volume of 509,820. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The company has a 50 day moving average of $55.25 and a 200 day moving average of $55.07. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -12.66 and a beta of 2.30.

Remove Ads

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The business had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million. As a group, sell-side analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Analysts Set New Price Targets

RYTM has been the subject of a number of research analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Jefferies Financial Group assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a "buy" rating and a $80.00 price target for the company. The Goldman Sachs Group upped their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Canaccord Genuity Group lifted their price target on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Oppenheimer started coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an "outperform" rating and a $76.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Rhythm Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $69.46.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 1,281 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $76,129.83. Following the completion of the transaction, the insider now owns 2,657 shares of the company's stock, valued at approximately $157,905.51. The trade was a 32.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher Paul German sold 635 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $36,334.70. Following the completion of the transaction, the chief accounting officer now directly owns 2,070 shares of the company's stock, valued at $118,445.40. This represents a 23.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,131 shares of company stock worth $5,781,098 over the last quarter. 5.60% of the stock is currently owned by insiders.

About Rhythm Pharmaceuticals

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.