Nisa Investment Advisors LLC Has $3.47 Million Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Nisa Investment Advisors LLC reduced its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 82.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,240 shares of the company's stock after selling 308,107 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.11% of Rhythm Pharmaceuticals worth $3,470,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC raised its holdings in Rhythm Pharmaceuticals by 348.9% in the 2nd quarter. SG Americas Securities LLC now owns 33,727 shares of the company's stock valued at $1,385,000 after acquiring an additional 26,214 shares during the period. Castleark Management LLC bought a new position in shares of Rhythm Pharmaceuticals during the first quarter worth approximately $2,769,000. Bayesian Capital Management LP bought a new position in shares of Rhythm Pharmaceuticals during the first quarter worth approximately $665,000. Frazier Life Sciences Management L.P. boosted its stake in Rhythm Pharmaceuticals by 8.3% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company's stock valued at $97,366,000 after purchasing an additional 181,125 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Rhythm Pharmaceuticals by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company's stock valued at $143,169,000 after purchasing an additional 77,208 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RYTM. Guggenheim initiated coverage on Rhythm Pharmaceuticals in a report on Monday, October 21st. They set a "buy" rating and a $70.00 target price for the company. HC Wainwright reiterated a "buy" rating and issued a $64.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Friday, October 25th. Needham & Company LLC restated a "buy" rating and set a $55.00 target price on shares of Rhythm Pharmaceuticals in a research report on Wednesday. JMP Securities initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They issued an "outperform" rating and a $64.00 price target for the company. Finally, Bank of America increased 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $60.33.

Insiders Place Their Bets

In other news, insider Pamela J. Cramer sold 49,006 shares of the firm's stock in a transaction that occurred on 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 directly owns 13,500 shares in the company, valued at approximately $609,525. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Lynn A. Tetrault sold 17,501 shares of the business's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $49.65, for a total transaction of $868,924.65. Following the sale, the director now owns 3,000 shares in the company, valued at $148,950. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Pamela J. Cramer sold 49,006 shares of Rhythm Pharmaceuticals 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 directly owns 13,500 shares in the company, valued at $609,525. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,857 shares of company stock valued at $5,325,446. 5.60% of the stock is currently owned by corporate insiders.

Rhythm Pharmaceuticals Price Performance

RYTM traded up $1.28 during trading on Friday, hitting $49.01. 293,919 shares of the stock traded hands, compared to its average volume of 309,480. The business has a 50 day moving average price of $49.69 and a 200 day moving average price of $45.02. Rhythm Pharmaceuticals, Inc. has a twelve month low of $23.26 and a twelve month high of $55.64. The company has a market cap of $3.00 billion, a price-to-earnings ratio of -11.24 and a beta of 2.09.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) EPS for the quarter, topping analysts' consensus estimates of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The company had revenue of $29.08 million during the quarter, compared to analysts' expectations of $28.79 million. During the same quarter in the previous year, the firm earned ($0.82) EPS. Rhythm Pharmaceuticals's revenue was up 51.3% on a year-over-year basis. On average, equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.45 earnings per share for the current year.

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.