SG Americas Securities LLC Sells 26,208 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

SG Americas Securities LLC lessened its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 77.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,519 shares of the company's stock after selling 26,208 shares during the quarter. SG Americas Securities LLC's holdings in Rhythm Pharmaceuticals were worth $394,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hennion & Walsh Asset Management Inc. increased its holdings in Rhythm Pharmaceuticals by 30.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 86,967 shares of the company's stock valued at $3,768,000 after buying an additional 20,259 shares during the period. Castleark Management LLC bought a new position in Rhythm Pharmaceuticals in the first quarter valued at approximately $2,769,000. Bayesian Capital Management LP acquired a new position in Rhythm Pharmaceuticals during the first quarter valued at approximately $665,000. Frazier Life Sciences Management L.P. lifted its stake in Rhythm Pharmaceuticals by 8.3% during the second quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company's stock worth $97,366,000 after purchasing an additional 181,125 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Rhythm Pharmaceuticals by 2.4% during the first quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company's stock worth $143,169,000 after purchasing an additional 77,208 shares during the last quarter.

Insiders Place Their Bets

In related news, insider Pamela J. Cramer sold 49,006 shares of Rhythm Pharmaceuticals 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 directly owns 13,500 shares of the company's stock, valued at $609,525. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Pamela J. Cramer sold 1,395 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $49.06, for a total value of $68,438.70. Following the completion of the transaction, the insider now directly owns 31,735 shares of the company's stock, valued at approximately $1,556,919.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Pamela J. Cramer sold 49,006 shares of the company's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $45.15, for a total value of $2,212,620.90. Following the sale, the insider now owns 13,500 shares in the company, valued at approximately $609,525. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,252 shares of company stock valued at $5,393,885. 5.60% of the stock is currently owned by company insiders.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock traded down $0.18 on Friday, hitting $50.85. The stock had a trading volume of 236,565 shares, compared to its average volume of 536,557. The stock has a 50 day moving average of $48.89 and a 200 day moving average of $44.40. Rhythm Pharmaceuticals, Inc. has a twelve month low of $21.34 and a twelve month high of $55.64. The firm has a market capitalization of $3.11 billion, a P/E ratio of -11.70 and a beta of 2.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.16. The firm had revenue of $29.08 million during the quarter, compared to the consensus estimate of $28.79 million. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The company's revenue for the quarter was up 51.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.82) earnings per share. Equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.43 earnings per share for the current year.

Wall Street Analyst Weigh In

RYTM has been the subject of a number of research analyst reports. Needham & Company LLC reissued a "buy" rating and set a $55.00 price target on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 7th. HC Wainwright reissued a "buy" rating and set a $64.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, October 7th. JMP Securities began coverage on shares of Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an "outperform" rating and a $64.00 price target on the stock. Finally, Bank of America lifted their price target on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Monday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $59.13.

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.