Federated Hermes Inc. Sells 114,265 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Federated Hermes Inc. trimmed its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 6.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,549,635 shares of the company’s stock after selling 114,265 shares during the period. Federated Hermes Inc.’s holdings in Rhythm Pharmaceuticals were worth $86,749,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. SRS Capital Advisors Inc. boosted its position in shares of Rhythm Pharmaceuticals by 740.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after purchasing an additional 400 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in Rhythm Pharmaceuticals during the fourth quarter valued at $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter valued at $37,000. R Squared Ltd purchased a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter worth about $44,000. Finally, KBC Group NV grew its position in shares of Rhythm Pharmaceuticals by 78.2% in the 4th quarter. KBC Group NV now owns 2,251 shares of the company’s stock worth $126,000 after buying an additional 988 shares during the period.

Insider Buying and Selling

In related news, EVP Yann Mazabraud sold 75,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $51.48, for a total value of $3,861,000.00. Following the transaction, the executive vice president now directly owns 40,370 shares of the company’s stock, valued at approximately $2,078,247.60. This trade represents a 65.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Shulman sold 1,281 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $76,129.83. Following the sale, the insider now directly owns 2,657 shares of the company’s stock, valued at $157,905.51. This represents a 32.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,131 shares of company stock valued at $5,781,098. 5.60% of the stock is owned by insiders.

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM opened at $46.95 on Monday. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -10.84 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The business’s fifty day moving average price is $54.57 and its 200-day moving average price is $55.09.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. HC Wainwright restated a “buy” rating and set a $70.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, March 24th. Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an “outperform” rating and a $76.00 price target on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $69.46.

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.