Candriam S.C.A. Sells 90,589 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Candriam S.C.A. trimmed its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 29.0% in the 3rd quarter, Holdings Channel reports. The fund owned 221,863 shares of the company’s stock after selling 90,589 shares during the quarter. Candriam S.C.A.’s holdings in Rhythm Pharmaceuticals were worth $22,406,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in Rhythm Pharmaceuticals by 956.9% during the third quarter. Nisa Investment Advisors LLC now owns 13,254 shares of the company’s stock valued at $1,339,000 after acquiring an additional 12,000 shares in the last quarter. EFG Asset Management North America Corp. bought a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at about $2,047,000. Penserra Capital Management LLC bought a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at approximately $3,073,000. Norges Bank bought a new stake in Rhythm Pharmaceuticals in the second quarter worth $13,105,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 216.2% in the 3rd quarter. SG Americas Securities LLC now owns 19,554 shares of the company’s stock worth $1,975,000 after acquiring an additional 13,369 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. TD Cowen reissued a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, December 11th. Guggenheim raised their target price on shares of Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Zacks Research downgraded Rhythm Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. HC Wainwright boosted their price objective on shares of Rhythm Pharmaceuticals from $123.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Finally, Citigroup restated an “outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $131.29.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $103.97 on Tuesday. The stock has a market cap of $6.94 billion, a PE ratio of -33.54 and a beta of 2.00. The firm has a fifty day moving average price of $106.57 and a 200 day moving average price of $102.68. Rhythm Pharmaceuticals, Inc. has a 1 year low of $45.90 and a 1 year high of $122.20.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, CFO Hunter C. Smith sold 3,381 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $106.06, for a total transaction of $358,588.86. Following the transaction, the chief financial officer owned 125,537 shares in the company, valued at $13,314,454.22. This trade represents a 2.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Pamela J. Cramer sold 3,350 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $111.00, for a total transaction of $371,850.00. Following the transaction, the insider owned 20,814 shares of the company’s stock, valued at $2,310,354. This represents a 13.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 9,978 shares of company stock worth $1,074,588. 6.10% of the stock is owned by company insiders.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.