Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Bought by Marshall Wace LLP

Marshall Wace LLP grew its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 440.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,809 shares of the company’s stock after buying an additional 87,059 shares during the period. Marshall Wace LLP owned 0.17% of Rhythm Pharmaceuticals worth $4,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. TD Asset Management Inc purchased a new stake in Rhythm Pharmaceuticals during the fourth quarter worth approximately $1,738,000. Campbell & CO Investment Adviser LLC acquired a new stake in Rhythm Pharmaceuticals during the fourth quarter worth approximately $494,000. Parkwood LLC purchased a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $469,000. Old Well Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $211,000. Finally, Quarry LP purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $69,000.

Insider Transactions at Rhythm Pharmaceuticals

In related news, Director Jennifer L. Good sold 31,751 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the sale, the director now owns 3,000 shares of the company’s stock, valued at $157,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Jennifer L. Good sold 31,751 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $157,200. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Pamela J. Cramer sold 49,006 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $45.15, for a total value of $2,212,620.90. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $609,525. The disclosure for this sale can be found here. Insiders have sold a total of 127,033 shares of company stock valued at $6,214,392 in the last ninety days. 5.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RYTM shares. JMP Securities initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. Finally, HC Wainwright assumed coverage on Rhythm Pharmaceuticals in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.88.

Rhythm Pharmaceuticals Stock Down 1.2 %

Shares of RYTM stock opened at $51.77 on Wednesday. Rhythm Pharmaceuticals, Inc. has a 52-week low of $20.97 and a 52-week high of $55.64. The stock’s 50-day moving average price is $48.19 and its 200 day moving average price is $43.63. The stock has a market capitalization of $3.16 billion, a PE ratio of -11.18 and a beta of 2.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The firm had revenue of $29.08 million during the quarter, compared to the consensus estimate of $28.79 million. During the same quarter last year, the firm earned ($0.82) earnings per share. The firm’s revenue was up 51.3% compared to the same quarter last year. Analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.43 earnings per share for the current fiscal year.

About Rhythm Pharmaceuticals

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.