UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 11,058 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 225,373 shares of the company's stock after selling 11,058 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.37% of Rhythm Pharmaceuticals worth $11,807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SG Americas Securities LLC lifted its stake in Rhythm Pharmaceuticals by 348.9% in the second quarter. SG Americas Securities LLC now owns 33,727 shares of the company's stock valued at $1,385,000 after purchasing an additional 26,214 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Rhythm Pharmaceuticals by 241.9% in the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company's stock worth $1,707,000 after purchasing an additional 23,054 shares during the period. Frazier Life Sciences Management L.P. grew its holdings in Rhythm Pharmaceuticals by 8.3% during 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 buying an additional 181,125 shares in the last quarter. Creative Planning purchased a new position in shares of Rhythm Pharmaceuticals during the 3rd quarter valued at $450,000. Finally, Intech Investment Management LLC bought a new position in shares of Rhythm Pharmaceuticals in the third quarter worth $649,000.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 17,501 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $49.65, for a total value of $868,924.65. Following the sale, the director now owns 3,000 shares of the company's stock, valued at $148,950. The trade was a 85.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph Shulman sold 13,281 shares of the business's 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. Insiders sold 138,181 shares of company stock worth $8,359,750 in the last three months. 5.60% of the stock is owned by company insiders.

Rhythm Pharmaceuticals Stock Up 1.9 %

Shares of Rhythm Pharmaceuticals stock traded up $1.07 during trading on Friday, reaching $58.89. The company's stock had a trading volume of 346,623 shares, compared to its average volume of 626,016. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58. The company has a market cap of $3.62 billion, a price-to-earnings ratio of -13.60 and a beta of 2.14. The firm's 50-day moving average is $55.06 and its two-hundred day moving average is $48.72.

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, topping analysts' consensus estimates of ($0.80) by $0.07. The firm had revenue of $33.20 million during 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%. The business's quarterly revenue was up 47.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.76) earnings per share. On average, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on RYTM. The Goldman Sachs Group boosted their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday. Canaccord Genuity Group reissued a "buy" rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. Needham & Company LLC raised their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Guggenheim initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 21st. They issued a "buy" rating and a $70.00 price target for the company. Finally, Bank of America increased 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. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Rhythm Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $63.70.

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.