The share price of Rhythm Pharmaceuticals Inc. (NASDAQ:RYTM) rose to $24.97 per share on Wednesday from $24.43. While Rhythm Pharmaceuticals Inc. has overperformed by 2.21%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RYTM rose by 150.45%, with highs and lows ranging from $30.98 to $3.04, whereas the simple moving average jumped by 80.53% in the last 200 days.
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On August 08, 2022, Goldman Upgraded Rhythm Pharmaceuticals Inc. (NASDAQ: RYTM) to Buy. A report published by BofA Securities on August 05, 2022, Upgraded its rating to ‘Neutral’ for RYTM. Needham also reiterated RYTM shares as ‘Buy’, quoting a target price of $25 on the company’s shares in a report dated June 17, 2022. Stifel Initiated an Buy rating on March 02, 2022, and assigned a price target of $23. Ladenburg Thalmann February 17, 2022d its ‘Neutral’ rating to ‘Buy’ for RYTM, as published in its report on February 17, 2022. Wells Fargo’s report from December 08, 2021 suggests a price prediction of $30 for RYTM shares, giving the stock a ‘Overweight’ rating. Morgan Stanley also rated the stock as ‘Equal-Weight’.
Analysis of Rhythm Pharmaceuticals Inc. (RYTM)
Further, the quarter-over-quarter increase in sales is 330.00%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Rhythm Pharmaceuticals Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -72.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 10.90, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and RYTM is recording an average volume of 1.06M. On a monthly basis, the volatility of the stock is set at 9.06%, whereas on a weekly basis, it is put at 8.25%, with a loss of -2.50% over the past seven days. Furthermore, long-term investors anticipate a median target price of $33.44, showing growth from the present price of $24.97, which can serve as yet another indication of whether RYTM is worth investing in or should be passed over.
How Do You Analyze Rhythm Pharmaceuticals Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.10%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in RYTM shares?
The recent increase in stakes in RYTM appears to be a result of several institutional investors and hedge funds increasing their positions. PRIMECAP Management Co.’s position in RYTM has increased by 10.41% in the first quarter. The company now owns 7,026,892 shares of the stock, with a value of $176.87 million, following the purchase of 662,798 additional shares during the last quarter. Federated Global Investment Manag made another increased to its shares in RYTM during the first quarter, upping its stake by 43.48%. During the last quarter, the company picked up 1,911,266 additional shares for a total stake of worth $158.74 million, bringing number of shares owned by the company to 6,306,866.
During the first quarter, Baker Bros. Advisors LP added a 1,937,640 position in RYTM. RA Capital Management LP purchased an additional 0.6 million shares in the last quarter, increasing its holdings by 12.32%, now holding 5.47 million shares worth $137.71 million. At the end of the first quarter, Goldman Sachs & Co. LLC increased its RYTM holdings by 53.25% and now holds 4.77 million RYTM shares valued at $119.99 million with the added 1.66 million shares during the period.