Whittier Trust Co. Sells 240 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Whittier Trust Co. cut its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,760 shares of the company’s stock after selling 240 shares during the period. Whittier Trust Co.’s holdings in Rhythm Pharmaceuticals were worth $99,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. SRS Capital Advisors Inc. lifted its holdings in Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after purchasing an additional 400 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth $28,000. SBI Securities Co. Ltd. bought a new position in shares of Rhythm Pharmaceuticals during the fourth quarter worth $37,000. R Squared Ltd purchased a new position in Rhythm Pharmaceuticals during the fourth quarter valued at $44,000. Finally, KBC Group NV increased its holdings in Rhythm Pharmaceuticals by 78.2% in the 4th quarter. KBC Group NV now owns 2,251 shares of the company’s stock valued at $126,000 after acquiring an additional 988 shares during the last quarter.

Rhythm Pharmaceuticals Trading Up 3.2 %

Rhythm Pharmaceuticals stock opened at $53.72 on Tuesday. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The firm has a 50-day moving average price of $55.28 and a 200-day moving average price of $54.99. The firm has a market capitalization of $3.40 billion, a PE ratio of -12.41 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The business had revenue of $41.83 million for the quarter, compared to analysts’ expectations of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. As a group, sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on RYTM. JMP Securities reissued a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Morgan Stanley reissued an “overweight” rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Stifel Nicolaus began coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They set a “buy” rating and a $78.00 price objective on the stock. Oppenheimer began coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 target price for the company. Finally, The Goldman Sachs Group boosted their price target on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.46.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 635 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $36,334.70. Following the transaction, the chief accounting officer now directly owns 2,070 shares in the company, valued at $118,445.40. This represents a 23.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Yann Mazabraud sold 75,000 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the sale, the executive vice president now directly owns 40,370 shares of the company’s stock, valued at $2,078,247.60. This represents a 65.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,131 shares of company stock valued at $5,781,098 in the last quarter. 5.60% of the stock is owned by insiders.

About Rhythm Pharmaceuticals

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.