Healthcare of Ontario Pension Plan Trust Fund Raises Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 14.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,111,043 shares of the company's stock after acquiring an additional 143,800 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 1.81% of Rhythm Pharmaceuticals worth $58,208,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RYTM. CWM LLC boosted its stake in Rhythm Pharmaceuticals by 62.6% in the 2nd quarter. CWM LLC now owns 657 shares of the company's stock worth $27,000 after purchasing an additional 253 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rhythm Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company's stock worth $114,000 after purchasing an additional 391 shares during the last quarter. American International Group Inc. boosted its holdings in Rhythm Pharmaceuticals by 3.1% in the 1st quarter. American International Group Inc. now owns 26,318 shares of the company's stock valued at $1,140,000 after purchasing an additional 781 shares during the period. ORG Partners LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the 2nd quarter worth $51,000. Finally, ORG Wealth Partners LLC acquired a new position in Rhythm Pharmaceuticals during the third quarter valued at approximately $63,000.

Rhythm Pharmaceuticals Trading Up 0.5 %

Shares of NASDAQ RYTM traded up $0.30 during mid-day trading on Wednesday, reaching $62.25. The company had a trading volume of 432,859 shares, compared to its average volume of 548,383. The company has a 50-day moving average price of $53.73 and a two-hundred day moving average price of $47.59. Rhythm Pharmaceuticals, Inc. has a 1-year low of $31.52 and a 1-year high of $68.58. The stock has a market cap of $3.83 billion, a PE ratio of -14.31 and a beta of 2.09.

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

Analysts Set New Price Targets

RYTM has been the topic of several research reports. JMP Securities began coverage on shares of Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They set an "outperform" rating and a $64.00 price objective on the stock. Bank of America raised their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Canaccord Genuity Group reiterated a "buy" rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. Needham & Company LLC lifted 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. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Rhythm Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $62.30.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, Director Jennifer L. Good sold 31,751 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total value of $1,663,752.40. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at approximately $157,200. This represents a 91.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pamela J. Cramer sold 4,099 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $50.03, for a total transaction of $205,072.97. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $675,405. This represents a 23.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,181 shares of company stock valued at $8,359,750 in the last ninety days. Company insiders own 5.60% of the company's stock.

Rhythm Pharmaceuticals Company 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.