Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,731 shares of the company’s stock after acquiring an additional 2,017 shares during the period. Rhumbline Advisers owned about 0.13% of Rhythm Pharmaceuticals worth $4,631,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth $44,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after acquiring an additional 391 shares in the last quarter. KBC Group NV increased its position in Rhythm Pharmaceuticals by 78.2% during the 4th quarter. KBC Group NV now owns 2,251 shares of the company’s stock worth $126,000 after purchasing an additional 988 shares in the last quarter. Finally, Creative Planning purchased a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth about $450,000.

Analyst Ratings Changes

Several research firms have issued reports on RYTM. The Goldman Sachs Group raised their price target on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Canaccord Genuity Group raised their target price on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday. TD Cowen boosted their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. JMP Securities restated a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Finally, Oppenheimer began coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.18.

Rhythm Pharmaceuticals Trading Down 0.6 %

RYTM stock opened at $53.00 on Friday. The stock has a 50-day moving average price of $56.98 and a two-hundred day moving average price of $54.21. The company has a market cap of $3.26 billion, a PE ratio of -12.24 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). The business had revenue of $41.83 million for the quarter, compared to analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. Equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 635 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the transaction, the chief accounting officer now owns 2,070 shares in the company, valued at $118,445.40. The trade was a 23.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David P. Meeker sold 9,896 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $566,249.12. Following the completion of the sale, the chief executive officer now directly owns 201,281 shares of the company’s stock, valued at $11,517,298.82. The trade was a 4.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,787 shares of company stock valued at $1,901,443 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.

Rhythm Pharmaceuticals Company 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.