National Bank of Canada FI Has $17.89 Million Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

National Bank of Canada FI trimmed its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 15.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 341,507 shares of the company's stock after selling 62,735 shares during the quarter. National Bank of Canada FI owned 0.56% of Rhythm Pharmaceuticals worth $17,892,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RYTM. Castleark Management LLC raised its stake in Rhythm Pharmaceuticals by 1.3% during the 3rd quarter. Castleark Management LLC now owns 19,260 shares of the company's stock worth $1,009,000 after buying an additional 250 shares during the period. CWM LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 62.6% during the 2nd quarter. CWM LLC now owns 657 shares of the company's stock valued at $27,000 after purchasing an additional 253 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company's stock valued at $114,000 after purchasing an additional 391 shares during the period. ORG Partners LLC bought a new stake in Rhythm Pharmaceuticals during the 2nd quarter worth approximately $51,000. Finally, ORG Wealth Partners LLC acquired a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth approximately $63,000.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. HC Wainwright reissued a "buy" rating and set a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 4th. Guggenheim initiated coverage on Rhythm Pharmaceuticals in a research note on Monday, October 21st. They issued a "buy" rating and a $70.00 price target on the stock. Needham & Company LLC boosted their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Bank of America increased their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Rhythm Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $63.70.

Rhythm Pharmaceuticals Trading Up 0.6 %

Shares of Rhythm Pharmaceuticals stock traded up $0.33 on Tuesday, reaching $57.74. 522,155 shares of the company were exchanged, compared to its average volume of 545,873. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of -13.33 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The company has a 50-day moving average of $55.28 and a 200 day moving average of $49.09.

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

Insiders Place Their Bets

In other news, Director Jennifer L. Good sold 31,751 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the transaction, the director now directly owns 3,000 shares of the company's stock, valued at approximately $157,200. This trade represents a 91.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pamela J. Cramer sold 4,688 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $65.00, for a total value of $304,720.00. Following the completion of the sale, the insider now owns 13,500 shares of the company's stock, valued at approximately $877,500. This trade represents a 25.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,581 shares of company stock worth $7,285,752 over the last three months. 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.