Primecap Management Co. CA Has $378.09 Million Stock Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Primecap Management Co. CA lessened its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,216,911 shares of the company’s stock after selling 95,480 shares during the period. Primecap Management Co. CA owned about 11.81% of Rhythm Pharmaceuticals worth $378,094,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in RYTM. CWM LLC raised its holdings in shares of Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after buying an additional 253 shares during the last quarter. ORG Partners LLC bought a new position in shares of Rhythm Pharmaceuticals in the second quarter valued at about $51,000. ORG Wealth Partners LLC bought a new position in shares of Rhythm Pharmaceuticals in the third quarter valued at about $63,000. Quest Partners LLC raised its holdings in shares of Rhythm Pharmaceuticals by 513.3% in the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after buying an additional 1,391 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after buying an additional 391 shares during the last quarter.

Analyst Upgrades and Downgrades

RYTM has been the subject of a number of research analyst reports. Guggenheim started coverage on Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a “buy” rating and a $70.00 price target for the company. JMP Securities started coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They set an “outperform” rating and a $64.00 price objective for the company. Needham & Company LLC boosted their price objective on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a report on Tuesday. Finally, HC Wainwright boosted their price objective on Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $62.30.

Rhythm Pharmaceuticals Trading Down 1.0 %

Shares of RYTM stock opened at $59.36 on Thursday. The stock has a 50 day simple moving average of $52.74 and a two-hundred day simple moving average of $46.88. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $31.52 and a fifty-two week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.07. The company had revenue of $33.20 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 47.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.76) earnings per share. On average, analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Lynn A. Tetrault sold 17,501 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $49.65, for a total transaction of $868,924.65. Following the sale, the director now directly owns 3,000 shares in the company, valued at approximately $148,950. The trade was a 85.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Pamela J. Cramer sold 3,200 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $50.01, for a total value of $160,032.00. Following the sale, the insider now owns 13,500 shares in the company, valued at approximately $675,135. The trade was a 19.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,681 shares of company stock valued at $8,734,825. Insiders own 5.60% of the company’s stock.

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.