Moors & Cabot Inc. bought a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,000 shares of the company’s stock, valued at approximately $34,000. Moors & Cabot Inc. owned 0.06% of Rhythm Pharmaceuticals at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in Rhythm Pharmaceuticals by 51.9% in the second quarter. Rhumbline Advisers now owns 61,012 shares of the company’s stock valued at $1,195,000 after buying an additional 20,857 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Rhythm Pharmaceuticals by 16.7% in the second quarter. The Manufacturers Life Insurance Company now owns 25,708 shares of the company’s stock valued at $503,000 after buying an additional 3,686 shares during the period. Northern Trust Corp increased its holdings in shares of Rhythm Pharmaceuticals by 1.3% in the second quarter. Northern Trust Corp now owns 440,686 shares of the company’s stock worth $8,629,000 after acquiring an additional 5,726 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 140.2% in the second quarter. UBS Asset Management Americas Inc. now owns 25,215 shares of the company’s stock worth $494,000 after acquiring an additional 14,719 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 6.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 267,631 shares of the company’s stock worth $5,241,000 after acquiring an additional 15,409 shares in the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:RYTM opened at $9.03 on Friday. The company has a market cap of $453.92 million, a PE ratio of -7.00 and a beta of 1.31. Rhythm Pharmaceuticals, Inc. has a 52-week low of $8.33 and a 52-week high of $43.26. The stock has a 50-day simple moving average of $10.53 and a 200 day simple moving average of $13.52.
Several brokerages have issued reports on RYTM. Morgan Stanley downgraded Rhythm Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $50.00 to $15.00 in a report on Friday, November 19th. Wells Fargo & Company began coverage on Rhythm Pharmaceuticals in a report on Wednesday, December 8th. They issued an “overweight” rating and a $30.00 price target for the company. Finally, Zacks Investment Research downgraded Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.00.
About Rhythm Pharmaceuticals
Rhythm Pharmaceuticals, Inc is a biopharmaceutical company, which engages in developing and commercializing peptide therapeutics for the treatment of gastrointestinal diseases and genetic deficiencies. The firm focuses on the treatment for Prader-Willi Syndrome and Pro-Opiomelanocortin deficiency obesity.
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