Janus Henderson Group PLC Sells 465 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Janus Henderson Group PLC lowered its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 0.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 621,427 shares of the company’s stock after selling 465 shares during the quarter. Janus Henderson Group PLC owned 1.02% of Rhythm Pharmaceuticals worth $26,926,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AJOVista LLC bought a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at approximately $42,000. Nisa Investment Advisors LLC lifted its position in Rhythm Pharmaceuticals by 91.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,256 shares of the company’s stock valued at $58,000 after purchasing an additional 600 shares during the last quarter. Quarry LP bought a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at approximately $69,000. ZRC Wealth Management LLC lifted its position in Rhythm Pharmaceuticals by 392.8% in the first quarter. ZRC Wealth Management LLC now owns 1,971 shares of the company’s stock valued at $85,000 after purchasing an additional 1,571 shares during the last quarter. Finally, Strs Ohio bought a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at approximately $137,000.

Insider Activity

In other news, insider Joseph Shulman sold 3,984 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $38.47, for a total transaction of $153,264.48. Following the transaction, the insider now directly owns 30 shares of the company’s stock, valued at $1,154.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 3,984 shares of the 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 transaction, the insider now owns 30 shares of the company’s stock, valued at $1,154.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Pamela J. Cramer sold 1,395 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $49.06, for a total value of $68,438.70. Following the completion of the transaction, the insider now directly owns 31,735 shares in the company, valued at approximately $1,556,919.10. The disclosure for this sale can be found here. Insiders have sold a total of 21,160 shares of company stock valued at $1,042,210 over the last ninety days. 5.60% of the stock is currently owned by corporate insiders.

Rhythm Pharmaceuticals Price Performance

RYTM stock traded up $0.10 during midday trading on Wednesday, hitting $47.76. The stock had a trading volume of 77,735 shares, compared to its average volume of 587,438. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -10.29 and a beta of 2.04. The business has a 50-day moving average of $43.03 and a two-hundred day moving average of $42.61. Rhythm Pharmaceuticals, Inc. has a 52-week low of $17.65 and a 52-week high of $53.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly 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 firm had revenue of $26.00 million during the quarter, compared to analysts’ expectations of $26.90 million. During the same period in the previous year, the company earned ($0.92) earnings per share. Rhythm Pharmaceuticals’s revenue for the quarter was up 126.1% on a year-over-year basis. Research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.45 earnings per share for the current year.

Analysts Set New Price Targets

RYTM has been the subject of several recent research reports. Canaccord Genuity Group lowered their price objective on Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Wells Fargo & Company reduced their target price on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Bank of America cut Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the company from $49.00 to $42.00 in a research note on Wednesday, May 8th. Finally, Needham & Company LLC boosted their target price on Rhythm Pharmaceuticals from $46.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.83.

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.