Freestone Capital Holdings LLC Acquires New Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Freestone Capital Holdings LLC acquired a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 3,700 shares of the company’s stock, valued at approximately $207,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Castleark Management LLC lifted its position in Rhythm Pharmaceuticals by 1.3% in the 3rd quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock valued at $1,009,000 after acquiring an additional 250 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after buying an additional 400 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at $37,000. Finally, R Squared Ltd acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at $44,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RYTM shares. Morgan Stanley reiterated an “overweight” rating and issued a $72.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday. Jefferies Financial Group began coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target for the company. Stifel Nicolaus began coverage on shares of Rhythm Pharmaceuticals in a research note on Wednesday. They set a “buy” rating and a $78.00 price target for the company. HC Wainwright raised their price target on shares of Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $64.00 target price on shares of Rhythm Pharmaceuticals in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $69.31.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 1,281 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $76,129.83. Following the completion of the sale, the insider now directly owns 2,657 shares in the company, valued at approximately $157,905.51. This trade represents a 32.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David P. Meeker sold 4,278 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $254,241.54. Following the transaction, the chief executive officer now owns 189,927 shares of the company’s stock, valued at $11,287,361.61. This represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,787 shares of company stock worth $1,901,443. 5.60% of the stock is currently owned by company insiders.

Rhythm Pharmaceuticals Trading Down 1.6 %

NASDAQ:RYTM opened at $50.79 on Friday. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -11.73 and a beta of 2.30. The firm has a fifty day simple moving average of $56.53 and a two-hundred day simple moving average of $54.48. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58.

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

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.