Natixis Cuts Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Natixis lessened its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 92.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,050 shares of the company’s stock after selling 74,450 shares during the quarter. Natixis’ holdings in Rhythm Pharmaceuticals were worth $262,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Rhythm Pharmaceuticals by 4.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,181 shares of the company’s stock worth $422,000 after purchasing an additional 406 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 91.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,256 shares of the company’s stock worth $58,000 after purchasing an additional 600 shares during the period. American International Group Inc. boosted its holdings in Rhythm Pharmaceuticals by 3.1% during the 1st quarter. American International Group Inc. now owns 26,318 shares of the company’s stock valued at $1,140,000 after acquiring an additional 781 shares during the period. AJOVista LLC purchased a new position in Rhythm Pharmaceuticals during the 4th quarter valued at $42,000. Finally, Principal Financial Group Inc. boosted its holdings in Rhythm Pharmaceuticals by 20.6% during the 1st quarter. Principal Financial Group Inc. now owns 7,180 shares of the company’s stock valued at $311,000 after acquiring an additional 1,227 shares during the period.

Insider Transactions at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 3,984 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $38.47, for a total value of $153,264.48. Following the sale, the insider now owns 30 shares in the company, valued at $1,154.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 19,765 shares of company stock worth $973,772 over the last quarter. 5.60% of the stock is currently owned by insiders.

Rhythm Pharmaceuticals Trading Down 1.1 %

RYTM opened at $49.05 on Friday. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -10.59 and a beta of 2.04. Rhythm Pharmaceuticals, Inc. has a 12 month low of $17.34 and a 12 month high of $53.92. The stock has a fifty day moving average price of $42.64 and a 200-day moving average price of $42.51.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, May 7th. The company reported ($2.35) earnings per share for the quarter, missing the consensus estimate of ($2.34) by ($0.01). Rhythm Pharmaceuticals had a negative return on equity of 179.26% and a negative net margin of 297.91%. The business had revenue of $26.00 million for the quarter, compared to analysts’ expectations of $26.90 million. During the same quarter last year, the firm earned ($0.92) earnings per share. The firm’s quarterly revenue was up 126.1% compared to the same quarter last year. On average, equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group dropped their price objective on Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Needham & Company LLC lifted their target price on Rhythm Pharmaceuticals from $46.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company decreased their target price on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Finally, Bank of America lowered Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $49.00 to $42.00 in a research report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.83.

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.