Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Hennion & Walsh Asset Management Inc.

Posted by on Jul 7th, 2023

Hennion & Walsh Asset Management Inc. lowered its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Free Report) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,335 shares of the company’s stock after selling 1,963 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.10% of Rhythm Pharmaceuticals worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank raised its stake in Rhythm Pharmaceuticals by 7.2% during the 1st quarter. Swiss National Bank now owns 83,300 shares of the company’s stock worth $960,000 after acquiring an additional 5,600 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Rhythm Pharmaceuticals by 21.1% in the 1st quarter. JPMorgan Chase & Co. now owns 26,981 shares of the company’s stock valued at $312,000 after purchasing an additional 4,701 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of Rhythm Pharmaceuticals by 59.0% in the 1st quarter. MetLife Investment Management LLC now owns 24,442 shares of the company’s stock valued at $282,000 after purchasing an additional 9,070 shares during the period. Dimensional Fund Advisors LP grew its stake in Rhythm Pharmaceuticals by 21.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 193,709 shares of the company’s stock worth $2,231,000 after buying an additional 34,840 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in Rhythm Pharmaceuticals by 80.7% during the first quarter. Federated Hermes Inc. now owns 5,065,113 shares of the company’s stock worth $58,350,000 after buying an additional 2,261,778 shares during the period.

Rhythm Pharmaceuticals Trading Down 0.9 %

Shares of NASDAQ RYTM opened at $15.86 on Friday. Rhythm Pharmaceuticals, Inc. has a twelve month low of $4.48 and a twelve month high of $34.99. The stock has a 50 day moving average of $17.33 and a two-hundred day moving average of $22.02.

Rhythm Pharmaceuticals (NASDAQ:RYTM – Free Report) last released its quarterly earnings results on Tuesday, May 2nd. The company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.21). Rhythm Pharmaceuticals had a negative net margin of 537.16% and a negative return on equity of 75.16%. The business had revenue of $11.50 million during the quarter, compared to analysts’ expectations of $12.12 million. During the same quarter last year, the company earned ($1.05) EPS. The firm’s revenue for the quarter was up 666.7% compared to the same quarter last year. On average, equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -3.27 earnings per share for the current fiscal year.

Rhythm Pharmaceuticals Profile

(Free Report)

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic diseases of obesity. The company's lead product candidate is IMCIVREE, 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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Institutional Ownership by Quarter for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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