Hennion & Walsh Asset Management Inc. Sells 1,514 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Hennion & Walsh Asset Management Inc. cut its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,447 shares of the company’s stock after selling 1,514 shares during the period. Hennion & Walsh Asset Management Inc. owned approximately 0.16% of Rhythm Pharmaceuticals worth $5,567,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC bought a new stake in shares of Rhythm Pharmaceuticals during the third quarter worth $63,000. Quest Partners LLC grew 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 worth $68,000 after purchasing an additional 1,391 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after buying an additional 391 shares during the period. Creative Planning bought a new stake in Rhythm Pharmaceuticals during the 3rd quarter valued at about $450,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in Rhythm Pharmaceuticals by 64.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,758 shares of the company’s stock valued at $616,000 after buying an additional 4,595 shares during the period.

Rhythm Pharmaceuticals Price Performance

RYTM opened at $53.66 on Thursday. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The firm has a market capitalization of $3.30 billion, a PE ratio of -12.39 and a beta of 2.16. The business’s 50-day moving average is $58.44 and its two-hundred day moving average is $52.01.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.07. The company had revenue of $33.20 million during the quarter, compared to the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Rhythm Pharmaceuticals’s revenue was up 47.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.76) earnings per share. As a group, sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.34 EPS for the current year.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 4,688 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $65.00, for a total value of $304,720.00. Following the completion of the transaction, the insider now owns 13,500 shares of the company’s stock, valued at approximately $877,500. This trade represents a 25.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jennifer Kayden Lee sold 66,861 shares of Rhythm Pharmaceuticals stock in a transaction dated 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 sale, the executive vice president now directly owns 972 shares of the company’s stock, valued at approximately $64,472.76. This represents a 98.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,830 shares of company stock worth $5,622,000 in the last ninety days. 5.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. TD Cowen raised their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Oppenheimer began coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They set an “outperform” rating and a $76.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $69.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target on the stock. Finally, Canaccord Genuity Group restated a “buy” rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.09.

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.