Rhythm Pharmaceuticals Inc (RYTM) Holdings Trimmed by Alps Advisors Inc.
Alps Advisors Inc. trimmed its position in Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) by 21.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,892 shares of the company’s stock after selling 7,701 shares during the quarter. Alps Advisors Inc.’s holdings in Rhythm Pharmaceuticals were worth $840,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth approximately $131,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth approximately $196,000. MetLife Investment Advisors LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth approximately $287,000. Northern Trust Corp lifted its holdings in shares of Rhythm Pharmaceuticals by 15.8% in the 1st quarter. Northern Trust Corp now owns 90,548 shares of the company’s stock worth $1,802,000 after acquiring an additional 12,367 shares during the last quarter. Finally, Teachers Advisors LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth approximately $421,000. Hedge funds and other institutional investors own 88.53% of the company’s stock.
In related news, major shareholder Orbimed Advisors Llc sold 131,636 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $30.88, for a total transaction of $4,064,919.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.93% of the stock is owned by corporate insiders.
Shares of RYTM opened at $31.73 on Friday. Rhythm Pharmaceuticals Inc has a fifty-two week low of $16.80 and a fifty-two week high of $37.23. The company has a market cap of $1.08 billion and a P/E ratio of -11.08.
Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Wednesday, August 8th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.04). analysts predict that Rhythm Pharmaceuticals Inc will post -1.66 earnings per share for the current year.
Rhythm Pharmaceuticals Company Profile
Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of peptide therapeutics for the treatment of rare genetic disorders of obesity in the United States. Its peptide candidates include Setmelanotide, a melanocortin-4 receptor agonist, which is in Phase III clinical trial to treat POMC and leptin receptor deficiency obesity; and Phase II clinical trial for Bardet-Biedl and Alström syndrome, POMC heterozygous deficiency obesity, and POMC epigenetic disorders.
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