Nisa Investment Advisors LLC Sells 64,955 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Nisa Investment Advisors LLC decreased its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 98.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,285 shares of the company's stock after selling 64,955 shares during the quarter. Nisa Investment Advisors LLC's holdings in Rhythm Pharmaceuticals were worth $72,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 241.9% during the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company's stock valued at $1,707,000 after purchasing an additional 23,054 shares in the last quarter. Franklin Resources Inc. lifted its stake in Rhythm Pharmaceuticals by 11.5% during the third quarter. Franklin Resources Inc. now owns 259,416 shares of the company's stock worth $13,033,000 after purchasing an additional 26,739 shares during the period. Geode Capital Management LLC grew its position in Rhythm Pharmaceuticals by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company's stock valued at $65,824,000 after acquiring an additional 3,499 shares during the period. Frazier Life Sciences Management L.P. grew its holdings in shares of Rhythm Pharmaceuticals by 1.9% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company's stock worth $126,624,000 after purchasing an additional 45,648 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Rhythm Pharmaceuticals by 79.6% during the third quarter. Barclays PLC now owns 106,397 shares of the company's stock worth $5,574,000 after buying an additional 47,166 shares in the last quarter.

Insiders Place Their Bets

In related news, insider Pamela J. Cramer sold 4,688 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $65.00, for a total value of $304,720.00. Following the sale, the insider now directly owns 13,500 shares in the company, valued at $877,500. This represents a 25.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph Shulman sold 13,281 shares of the business's stock in a transaction on Monday, November 11th. The shares were 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. Insiders sold a total of 84,830 shares of company stock valued at $5,622,000 in the last 90 days. Corporate insiders own 5.60% of the company's stock.

Rhythm Pharmaceuticals Stock Down 0.3 %

Shares of NASDAQ:RYTM traded down $0.16 during trading on Monday, reaching $59.27. 399,108 shares of the company traded hands, compared to its average volume of 506,316. The firm has a market capitalization of $3.64 billion, a PE ratio of -13.69 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58. The company's 50 day moving average is $57.44 and its two-hundred day moving average is $52.99.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.07. The business had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. Rhythm Pharmaceuticals's revenue was up 47.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.76) earnings per share. As a group, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.33 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. TD Cowen raised their price target on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. HC Wainwright reissued a "buy" rating and set a $69.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Canaccord Genuity Group reaffirmed a "buy" rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. Bank of America raised their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Finally, Needham & Company LLC upped 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. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.09.

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.