Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 86.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,716 shares of the company's stock after selling 174,610 shares during the quarter. Wellington Management Group LLP's holdings in Rhythm Pharmaceuticals were worth $1,452,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in RYTM. CWM LLC increased its position in Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company's stock worth $27,000 after buying an additional 253 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Rhythm Pharmaceuticals during the 3rd quarter valued at approximately $63,000. Quest Partners LLC increased its holdings in Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company's stock worth $68,000 after acquiring an additional 1,391 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Rhythm Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company's stock worth $114,000 after acquiring an additional 391 shares during the period. Finally, Creative Planning bought a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth approximately $450,000.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. Guggenheim initiated coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a "buy" rating and a $70.00 target price for the company. HC Wainwright reissued a "buy" rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a report on Wednesday, December 4th. The Goldman Sachs Group upped their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Finally, TD Cowen increased their target price on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Rhythm Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $63.70.

Rhythm Pharmaceuticals Trading Up 3.3 %

Shares of NASDAQ:RYTM traded up $1.79 during mid-day trading on Thursday, reaching $55.48. The stock had a trading volume of 586,267 shares, compared to its average volume of 544,656. The company has a market cap of $3.41 billion, a P/E ratio of -12.81 and a beta of 2.14. The business's 50 day moving average price is $56.11 and its 200 day moving average price is $49.82. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $33.20 million for the quarter, compared to analysts' expectations of $32.52 million. During the same period in the prior year, the firm earned ($0.76) EPS. The company's revenue for the quarter was up 47.6% on a year-over-year basis. Analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 4,688 shares of the firm's stock in a transaction 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 completion of the sale, the insider now owns 13,500 shares of the company's stock, valued at $877,500. This trade represents a 25.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jennifer Kayden Lee sold 66,861 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $66.33, for a total value of $4,434,890.13. Following the transaction, the executive vice president now owns 972 shares in the company, valued at approximately $64,472.76. This trade represents a 98.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,830 shares of company stock worth $5,622,000 over the last 90 days. 5.60% of the stock is owned by insiders.

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.