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

Whittier Trust Co. trimmed its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 12.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,760 shares of the company’s stock after selling 240 shares during the quarter. Whittier Trust Co.’s holdings in Rhythm Pharmaceuticals were worth $99,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RYTM. Victory Capital Management Inc. raised its holdings in Rhythm Pharmaceuticals by 158.0% in the third quarter. Victory Capital Management Inc. now owns 18,186 shares of the company’s stock worth $953,000 after purchasing an additional 11,137 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter worth approximately $649,000. Charles Schwab Investment Management Inc. raised its stake in shares of Rhythm Pharmaceuticals by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 433,866 shares of the company’s stock worth $22,730,000 after acquiring an additional 5,908 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in Rhythm Pharmaceuticals during the third quarter valued at approximately $1,313,000. Finally, Loomis Sayles & Co. L P acquired a new stake in Rhythm Pharmaceuticals in the third quarter valued at approximately $33,353,000.

Insider Activity at Rhythm Pharmaceuticals

In related news, CAO Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $36,334.70. Following the completion of the transaction, the chief accounting officer now owns 2,070 shares in the company, valued at $118,445.40. The trade was a 23.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Shulman sold 1,281 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $76,129.83. Following the transaction, the insider now owns 2,657 shares in the company, valued at $157,905.51. This represents a 32.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,131 shares of company stock worth $5,781,098 in the last three months. Company insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

RYTM has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target on the stock. JMP Securities reiterated a “market outperform” rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. The Goldman Sachs Group raised their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Oppenheimer began coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and set a $70.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $69.46.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM opened at $53.72 on Tuesday. The business’s 50-day moving average is $55.28 and its two-hundred day moving average is $54.99. The company has a market capitalization of $3.40 billion, a P/E ratio of -12.41 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58.

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