Federated Hermes Inc. Has $86.75 Million Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Federated Hermes Inc. lessened its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,549,635 shares of the company's stock after selling 114,265 shares during the period. Federated Hermes Inc. owned 2.52% of Rhythm Pharmaceuticals worth $86,749,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RYTM. Frazier Life Sciences Management L.P. grew its holdings in Rhythm Pharmaceuticals by 1.9% during the third quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company's stock valued at $126,624,000 after purchasing an additional 45,648 shares during the period. Geode Capital Management LLC raised its stake in Rhythm Pharmaceuticals by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company's stock worth $65,824,000 after purchasing an additional 3,499 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Rhythm Pharmaceuticals by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company's stock valued at $24,645,000 after buying an additional 6,384 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Rhythm Pharmaceuticals by 14.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 375,349 shares of the company's stock valued at $21,012,000 after purchasing an additional 46,010 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Rhythm Pharmaceuticals by 3.4% during the fourth quarter. Franklin Resources Inc. now owns 268,205 shares of the company's stock worth $15,014,000 after purchasing an additional 8,789 shares during the period.

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Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a "buy" rating and a $80.00 price objective on the stock. Oppenheimer started coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an "outperform" rating and a $76.00 price target for the company. Wells Fargo & Company raised their price target on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a research report on Monday, April 7th. JMP Securities restated a "market outperform" rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $66.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, Rhythm Pharmaceuticals has an average rating of "Buy" and an average target price of $74.92.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock traded up $1.72 during mid-day trading on Friday, reaching $59.55. 681,857 shares of the company were exchanged, compared to its average volume of 543,240. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58. The firm has a market cap of $3.76 billion, a PE ratio of -13.75 and a beta of 2.32. The firm's 50-day simple moving average is $54.58 and its two-hundred day simple moving average is $55.29.

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

Insider Buying and Selling

In related news, CAO Christopher Paul German sold 635 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70. Following the transaction, the chief accounting officer now owns 2,070 shares of the company's stock, valued at approximately $118,445.40. The trade was a 23.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Yann Mazabraud sold 75,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the transaction, the executive vice president now directly owns 40,370 shares of the company's stock, valued at $2,078,247.60. The trade was a 65.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,641 shares of company stock valued at $8,112,177 over the last 90 days. 5.60% of the stock is currently owned by company insiders.

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.