National Bank of Canada FI Raises Stock Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

National Bank of Canada FI grew its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 10.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 404,242 shares of the company's stock after purchasing an additional 36,725 shares during the period. National Bank of Canada FI owned approximately 0.66% of Rhythm Pharmaceuticals worth $17,249,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CWM LLC increased 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 acquired a new position in shares of Rhythm Pharmaceuticals in the second quarter valued at approximately $51,000. Quarry LP acquired a new position in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $69,000. ZRC Wealth Management LLC increased its holdings in shares of Rhythm Pharmaceuticals by 392.8% in the first quarter. ZRC Wealth Management LLC now owns 1,971 shares of the company's stock valued at $85,000 after purchasing an additional 1,571 shares during the period. Finally, Old Well Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $211,000.

Rhythm Pharmaceuticals Stock Up 2.0 %

RYTM stock traded up $0.98 on Friday, reaching $49.25. 443,069 shares of the company's stock were exchanged, compared to its average volume of 291,198. The stock has a fifty day moving average of $46.67 and a 200-day moving average of $42.66. Rhythm Pharmaceuticals, Inc. has a twelve month low of $20.97 and a twelve month high of $53.92. The firm has a market cap of $3.00 billion, a PE ratio of -10.64 and a beta of 2.07.

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

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 4,300 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $50.01, for a total value of $215,043.00. Following the sale, the director now owns 3,000 shares of the company's stock, valued at $150,030. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Joseph Shulman sold 10,468 shares of the company's stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $53.00, for a total value of $554,804.00. Following the sale, the insider now directly owns 30 shares in the company, valued at $1,590. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lynn A. Tetrault sold 4,300 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $50.01, for a total value of $215,043.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at $150,030. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,682 shares of company stock valued at $3,476,642. Insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a "buy" rating and issued a $55.00 target price on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $55.83.

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.