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Rhythm Pharmaceuticals Inc. (RYTM) Volatility At 4.81%, Should You Add A Position?

187 institutions hold shares in Rhythm Pharmaceuticals Inc. (RYTM), with 1.51M shares held by insiders accounting for 3.01% while institutional investors hold 88.31% of the company’s shares. The shares outstanding are 44.22M, and float is at 36.86M with Short Float at 11.30%. Institutions hold 85.64% of the Float.

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The top institutional shareholder in the company is NEA Management Company, LLC with over 4.91 million shares valued at $146.04 million. The investor’s holdings represent 9.79% of the RYTM Shares outstanding. As of Dec 30, 2020, the second largest holder is Janus Henderson Group PLC with 4.49 million shares valued at $133.54 million to account for 8.95% of the shares outstanding. The other top investors are Primecap Management Company which holds 4.34 million shares representing 8.65% and valued at over $129.1 million, while RA Capital Management, L.P. holds 8.33% of the shares totaling 4.18 million with a market value of $124.24 million.

Rhythm Pharmaceuticals Inc. (NASDAQ: RYTM) is -27.65% lower on its value in year-to-date trading and has touched a low of $17.27 and a high of $43.26 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The RYTM stock was last observed hovering at around $21.41 in the last trading session, with the day’s gains setting it 0.1% off its average median price target of $47.50 for the next 12 months. It is also 64.15% off the consensus price target high of $60.00 offered by 8 analysts, but current levels are 6.48% higher than the price target low of $23.00 for the same period.

Currently trading at $21.51, the stock is 2.92% and -9.97% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.26 million and changing 0.47% at the moment leaves the stock -15.45% off its SMA200. RYTM registered 9.08% gain for a year compared to 6-month loss of -4.91%. The firm has a 50-day simple moving average (SMA 50) of $25.17 and a 200-day simple moving average (SMA200) of $26.95.

The stock witnessed a -0.37% gain in the last 1 month and extending the period to 3 months gives it a -36.79%, and is 5.54% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.81% over the week and 5.81% over the month.

Distance from 52-week low is 24.55% and -50.28% from its 52-week high.

Rhythm Pharmaceuticals Inc. (RYTM) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Rhythm Pharmaceuticals Inc. (RYTM) is a “Overweight”. 8 analysts offering their recommendations for the stock have an average rating of 2.00, where 1 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Rhythm Pharmaceuticals Inc. is expected to release its quarterly report on 08/10/2021 and quarterly earnings per share for the current quarter are estimated at $0.3 with sales reaching $59.82M over the same period.The EPS is expected to grow by 21.40% this year.

Rhythm Pharmaceuticals Inc. (RYTM) Insider Activity

A total of 10 insider transactions have happened at Rhythm Pharmaceuticals Inc. (RYTM) in the last six months, with sales accounting for 7 and purchases happening 3 times. The most recent transaction is an insider purchase by Meeker David P, the company’s President and CEO. SEC filings show that Meeker David P bought 10,000 shares of the company’s common stock on Mar 30 at a price of $20.17 per share for a total of $0.2 million. Following the purchase, the insider now owns 0.11 million shares.

Rhythm Pharmaceuticals Inc. disclosed in a document filed with the SEC on Mar 15 that Foley Todd (Director) sold a total of 1,000,000 shares of the company’s common stock. The trade occurred on Mar 15 and was made at $25.10 per share for $25.1 million. Following the transaction, the insider now directly holds 0.91 million shares of the RYTM stock.

Still, SEC filings show that on Dec 03, RA CAPITAL MANAGEMENT, L.P. (Former 10% Owner) disposed off 207,604 shares at an average price of $29.03 for $6.03 million. The insider now directly holds 4,360,860 shares of Rhythm Pharmaceuticals Inc. (RYTM).

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Rhythm Pharmaceuticals Inc. (RYTM): Who are the competitors?

The company’s main competitors (and peers) include Pieris Pharmaceuticals Inc. (PIRS) that is trading -20.77% down over the past 12 months. Short interest in the company’s stock has fallen -35.93% from the last report on Apr 14, 2021 to stand at a total of 3.67 million short shares sold with a short interest ratio of 7.25.

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