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

Harbor Capital Advisors Inc. grew its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 19.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,368 shares of the company’s stock after buying an additional 6,741 shares during the quarter. Harbor Capital Advisors Inc. owned 0.07% of Rhythm Pharmaceuticals worth $2,167,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RYTM. Perceptive Advisors LLC boosted its stake in Rhythm Pharmaceuticals by 5.4% in the 2nd quarter. Perceptive Advisors LLC now owns 3,446,579 shares of the company’s stock worth $141,517,000 after purchasing an additional 178,000 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Rhythm Pharmaceuticals by 2.4% in the first quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company’s stock valued at $143,169,000 after purchasing an additional 77,208 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its position in shares of Rhythm Pharmaceuticals by 8.3% during the second quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock worth $97,366,000 after buying an additional 181,125 shares during the period. Driehaus Capital Management LLC grew its holdings in shares of Rhythm Pharmaceuticals by 38.2% during the second quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company’s stock worth $48,548,000 after buying an additional 326,865 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Rhythm Pharmaceuticals by 32.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 967,243 shares of the company’s stock valued at $39,715,000 after buying an additional 236,600 shares during the last quarter.

Insider Transactions at Rhythm Pharmaceuticals

In related news, Director Jennifer L. Good sold 31,751 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 3,000 shares in the company, valued at approximately $157,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Pamela J. Cramer sold 3,200 shares of the business’s stock in a transaction on 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction, the director now directly owns 3,000 shares in the company, valued at approximately $157,200. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,857 shares of company stock worth $5,325,446. 5.60% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Rhythm Pharmaceuticals Stock Up 8.1 %

RYTM opened at $52.99 on Tuesday. Rhythm Pharmaceuticals, Inc. has a 12-month low of $23.83 and a 12-month high of $55.64. The business has a 50 day moving average of $49.75 and a 200-day moving average of $45.21. The stock has a market cap 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) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The firm had revenue of $29.08 million during the quarter, compared to analysts’ expectations of $28.79 million. During the same period in the previous year, the business posted ($0.82) earnings per share. The company’s revenue for the quarter was up 51.3% compared to the same quarter last year. As a group, analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.45 earnings per share for the current year.

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.