National Bank of Canada FI Sells 62,735 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

National Bank of Canada FI decreased its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 15.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 341,507 shares of the company’s stock after selling 62,735 shares during the quarter. National Bank of Canada FI owned approximately 0.56% of Rhythm Pharmaceuticals worth $17,892,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after purchasing an additional 253 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals during the 2nd quarter valued at approximately $51,000. ORG Wealth Partners LLC bought a new position in Rhythm Pharmaceuticals in the 3rd quarter worth approximately $63,000. Quest Partners LLC grew its stake in Rhythm Pharmaceuticals by 513.3% in the 2nd 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew 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 valued at $114,000 after buying an additional 391 shares in the last quarter.

Insider Activity

In other news, Director Jennifer L. Good sold 31,751 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total value of $1,663,752.40. Following the completion of the sale, the director now owns 3,000 shares of the company’s stock, valued at approximately $157,200. This represents a 91.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pamela J. Cramer sold 4,688 shares of Rhythm Pharmaceuticals stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $65.00, for a total transaction of $304,720.00. Following the completion of the transaction, the insider now owns 13,500 shares in the company, valued at approximately $877,500. The trade was a 25.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,581 shares of company stock worth $7,285,752. 5.60% of the stock is currently owned by insiders.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $57.41 on Tuesday. The company has a 50 day simple moving average of $55.16 and a two-hundred day simple moving average of $48.94. The firm has a market cap of $3.53 billion, a PE ratio of -13.26 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year 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, topping the consensus estimate of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $33.20 million during the quarter, compared to analyst estimates of $32.52 million. During the same period in the previous year, the business earned ($0.76) earnings per share. The firm’s quarterly revenue was up 47.6% compared to the same quarter last year. As a group, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.36 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JMP Securities initiated coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price target for the company. Bank of America increased their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. HC Wainwright reaffirmed a “buy” rating and set a $69.00 target price on shares of Rhythm Pharmaceuticals in a report on Wednesday, December 4th. TD Cowen upped their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.70.

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.