JGP Global Gestao de Recursos Ltda. Has $239,000 Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

JGP Global Gestao de Recursos Ltda. decreased its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 94.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,814 shares of the company's stock after selling 100,000 shares during the period. JGP Global Gestao de Recursos Ltda.'s holdings in Rhythm Pharmaceuticals were worth $239,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. New York State Common Retirement Fund raised its holdings in Rhythm Pharmaceuticals by 59.3% during the 4th quarter. New York State Common Retirement Fund now owns 32,874 shares of the company's stock worth $1,511,000 after buying an additional 12,233 shares during the period. Victory Capital Management Inc. boosted its stake in Rhythm Pharmaceuticals by 809.2% in the 4th quarter. Victory Capital Management Inc. now owns 182,297 shares of the company's stock worth $8,380,000 after purchasing an additional 162,247 shares during the period. National Bank of Canada FI increased its holdings in Rhythm Pharmaceuticals by 82.4% during the 4th quarter. National Bank of Canada FI now owns 239,000 shares of the company's stock worth $10,786,000 after purchasing an additional 108,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Rhythm Pharmaceuticals by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 397,685 shares of the company's stock valued at $18,282,000 after purchasing an additional 12,937 shares during the period. Finally, E Fund Management Co. Ltd. bought a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at about $300,000.

Rhythm Pharmaceuticals Stock Up 2.9 %

Shares of NASDAQ:RYTM traded up $1.38 during midday trading on Thursday, hitting $48.27. The stock had a trading volume of 260,999 shares, compared to its average volume of 555,774. The company has a market cap of $2.95 billion, a P/E ratio of -10.43 and a beta of 2.07. Rhythm Pharmaceuticals, Inc. has a 12 month low of $20.97 and a 12 month high of $53.92. The business's 50-day simple moving average is $46.51 and its 200-day simple moving average is $42.75.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The company had revenue of $29.08 million for the quarter, compared to analyst estimates of $28.79 million. During the same period in the previous year, the business earned ($0.82) EPS. Rhythm Pharmaceuticals's revenue for the quarter was up 51.3% compared to the same quarter last year. As a group, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RYTM. Bank of America lowered Rhythm Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their target price for the company from $49.00 to $42.00 in a research report on Wednesday, May 8th. Needham & Company LLC restated a "buy" rating and set a $55.00 target price on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 7th. Finally, Canaccord Genuity Group lowered their price target on shares of Rhythm Pharmaceuticals from $80.00 to $79.00 and set a "buy" rating on the stock in a research note on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $55.83.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 49,006 shares of the firm's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $45.15, for a total transaction of $2,212,620.90. Following the completion of the sale, the insider now owns 13,500 shares of the company's stock, valued at approximately $609,525. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Joseph Shulman sold 5,313 shares of the business's stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $50.01, for a total transaction of $265,703.13. Following the completion of the sale, the insider now owns 30 shares in the company, valued at $1,500.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Pamela J. Cramer sold 49,006 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $45.15, for a total value of $2,212,620.90. Following the transaction, the insider now owns 13,500 shares in the company, valued at approximately $609,525. The disclosure for this sale can be found here. Insiders have sold 73,682 shares of company stock worth $3,476,642 over the last 90 days. Company insiders own 5.60% of the company's stock.

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.