Harbor Capital Advisors Inc. Has $2.17 Million Stock Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Harbor Capital Advisors Inc. raised its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 19.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 41,368 shares of the company’s stock after buying an additional 6,741 shares during the period. Harbor Capital Advisors Inc.’s holdings in Rhythm Pharmaceuticals were worth $2,167,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. CWM LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 62.6% during the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after acquiring an additional 253 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the second quarter valued at about $51,000. ORG Wealth Partners LLC bought a new stake in shares of Rhythm Pharmaceuticals during the third quarter worth about $63,000. Quest Partners LLC increased its stake 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 valued at $68,000 after buying an additional 1,391 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings 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 during the last quarter.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM opened at $52.99 on Tuesday. Rhythm Pharmaceuticals, Inc. has a 1 year low of $23.83 and a 1 year high of $55.64. The business’s 50-day moving average is $49.75 and its 200-day moving average is $45.21. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -12.15 and a beta of 2.09.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.16. The company had revenue of $29.08 million during the quarter, compared to analyst estimates of $28.79 million. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. Rhythm Pharmaceuticals’s revenue for the quarter was up 51.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.82) EPS. Analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.45 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on RYTM. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Rhythm Pharmaceuticals in a report on Wednesday, October 30th. HC Wainwright restated a “buy” rating and issued a $64.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, October 25th. JMP Securities began coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They set an “outperform” rating and a $64.00 target price on the stock. Guggenheim started coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Bank of America raised their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.33.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 3,200 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $50.01, for a total value of $160,032.00. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at $675,135. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 4,300 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $50.01, for a total value of $215,043.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $150,030. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pamela J. Cramer sold 3,200 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $50.01, for a total transaction of $160,032.00. Following the transaction, the insider now owns 13,500 shares of the company’s stock, valued at $675,135. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,857 shares of company stock valued at $5,325,446. Corporate insiders own 5.60% of the company’s stock.

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.