Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. decreased its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 26.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,252 shares of the company's stock after selling 11,116 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Rhythm Pharmaceuticals were worth $1,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Wealth Partners LLC bought a new stake in Rhythm Pharmaceuticals in the third quarter worth $63,000. Quest Partners LLC grew its holdings in Rhythm Pharmaceuticals by 513.3% during the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company's stock valued at $68,000 after purchasing an additional 1,391 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in 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 worth $114,000 after purchasing an additional 391 shares during the period. Creative Planning bought a new stake in Rhythm Pharmaceuticals in the third quarter worth about $450,000. Finally, Principal Financial Group Inc. boosted its position in shares of Rhythm Pharmaceuticals by 32.8% during the second quarter. Principal Financial Group Inc. now owns 9,532 shares of the company's stock valued at $391,000 after buying an additional 2,352 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RYTM shares. Oppenheimer initiated coverage on Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an "outperform" rating and a $76.00 price target for the company. Bank of America upped their price target on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Canaccord Genuity Group restated a "buy" rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. Needham & Company LLC raised their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Finally, TD Cowen upped their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.09.

Rhythm Pharmaceuticals Trading Down 2.8 %

Shares of RYTM traded down $1.56 during midday trading on Monday, hitting $54.61. 101,814 shares of the company's stock traded hands, compared to its average volume of 492,447. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of -12.61 and a beta of 2.16. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The firm's fifty day moving average is $58.63 and its 200-day moving average is $51.80.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating analysts' consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company had revenue of $33.20 million during the quarter, compared to analysts' expectations of $32.52 million. During the same period last year, the business posted ($0.76) earnings per share. The firm's revenue was up 47.6% compared to the same quarter last year. On average, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.34 EPS for the current year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, EVP Jennifer Kayden Lee sold 66,861 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the completion of the sale, the executive vice president now directly owns 972 shares in the company, valued at approximately $64,472.76. The trade was a 98.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Joseph Shulman sold 13,281 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $66.44, for a total transaction of $882,389.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,830 shares of company stock valued at $5,622,000. 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.