KLP Kapitalforvaltning AS Acquires Shares of 9,300 Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

KLP Kapitalforvaltning AS acquired a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,300 shares of the company’s stock, valued at approximately $521,000.

Several other institutional investors and hedge funds have also modified their holdings of RYTM. SRS Capital Advisors Inc. lifted its stake 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 acquiring an additional 400 shares during the period.

Raleigh Capital Management Inc. acquired a new position in Rhythm Pharmaceuticals during the 4th quarter valued at about $28,000. SBI Securities Co.

Ltd. bought a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $37,000. R Squared Ltd acquired a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $44,000.

Finally, KBC Group NV raised its stake in shares of Rhythm Pharmaceuticals by 78.2% during the fourth 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 last quarter.

Rhythm Pharmaceuticals Trading Down 4.1 %NASDAQ RYTM opened at $49.82 on Friday.

The firm has a market capitalization of $3.15 billion, a P/E ratio of -11.51 and a beta of 2.

32. The firm’s fifty day moving average price is $54.79 and its two-hundred day moving average price is $55.

08. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.

17 and a 1 year high of $68.58. Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last announced its earnings results on Wednesday, February 26th.

The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.

03). The company had revenue of $41.83 million for the quarter, compared to the consensus estimate of $38.

48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.

07%. On average, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.

32 EPS for the current fiscal year. Insider Transactions at Rhythm PharmaceuticalsIn other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 75,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $51.

48, for a total transaction of $3,861,000.00. Following the transaction, the executive vice president now owns 40,370 shares in the company, valued at $2,078,247.

60. This represents a 65.01 % decrease in their position.

The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David P. Meeker sold 9,896 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, February 19th.

The shares were sold at an average price of $57.22, for a total transaction of $566,249.12.

Following the completion of the sale, the chief executive officer now owns 201,281 shares of the company’s stock, valued at approximately $11,517,298.82. The trade was a 4.

69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,131 shares of company stock worth $5,781,098.

Company insiders own 5.60% of the company’s stock. Wall Street Analysts Forecast GrowthA number of equities research analysts recently commented on RYTM shares.

HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, March 24th. Jefferies Financial Group started coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd.

They issued a “buy” rating and a $80.00 price target on the stock. The Goldman Sachs Group increased their target price on shares of Rhythm Pharmaceuticals from $59.

00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Needham & Company LLC boosted their price target on shares of Rhythm Pharmaceuticals from $64.

00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $75.

00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.

46.Read Our Latest Report on Rhythm PharmaceuticalsAbout Rhythm Pharmaceuticals (Free Report)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.

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