Wellington Management Group LLP Raises Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Wellington Management Group LLP grew its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 139,802 shares of the company’s stock after buying an additional 2,359 shares during the quarter. Wellington Management Group LLP owned 0.23% of Rhythm Pharmaceuticals worth $6,427,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Rhythm Pharmaceuticals by 9.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 384,748 shares of the company’s stock valued at $8,820,000 after acquiring an additional 34,189 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Rhythm Pharmaceuticals by 13.3% during the third quarter. Deutsche Bank AG now owns 27,452 shares of the company’s stock valued at $629,000 after buying an additional 3,227 shares during the last quarter. FMR LLC increased its holdings in Rhythm Pharmaceuticals by 23.8% in the 3rd quarter. FMR LLC now owns 868,474 shares of the company’s stock worth $19,910,000 after buying an additional 166,940 shares in the last quarter. Trexquant Investment LP purchased a new position in Rhythm Pharmaceuticals in the 3rd quarter worth about $562,000. Finally, Gotham Asset Management LLC bought a new position in Rhythm Pharmaceuticals during the 3rd quarter valued at about $328,000.

Analyst Ratings Changes

Several research analysts have recently weighed in on RYTM shares. Bank of America cut shares of Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $49.00 to $42.00 in a report on Wednesday, May 8th. Wells Fargo & Company lowered their price target on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Canaccord Genuity Group cut their price objective on Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, Needham & Company LLC dropped their target price on Rhythm Pharmaceuticals from $50.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $54.33.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock opened at $41.06 on Friday. The stock has a market cap of $2.50 billion, a P/E ratio of -8.87 and a beta of 1.93. The stock’s fifty day moving average is $39.72 and its 200 day moving average is $42.21. Rhythm Pharmaceuticals, Inc. has a one year low of $15.50 and a one year high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($2.35) EPS for the quarter, missing the consensus estimate of ($2.34) by ($0.01). The company had revenue of $26.00 million during the quarter, compared to the consensus estimate of $26.90 million. Rhythm Pharmaceuticals had a negative return on equity of 179.26% and a negative net margin of 297.91%. The firm’s quarterly revenue was up 126.1% compared to the same quarter last year. During the same period last year, the business earned ($0.92) EPS. Analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 3,984 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $38.47, for a total value of $153,264.48. Following the completion of the sale, the insider now directly owns 30 shares of the company’s stock, valued at $1,154.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.60% of the company’s stock.

Rhythm Pharmaceuticals Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), 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.