Y Intercept Hong Kong Ltd Invests $328,000 in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Y Intercept Hong Kong Ltd acquired a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,866 shares of the company’s stock, valued at approximately $328,000.

A number of other large investors have also recently bought and sold shares of RYTM. Loomis Sayles & Co. L P bought a new stake in Rhythm Pharmaceuticals during the third quarter valued at about $33,353,000. Alkeon Capital Management LLC raised its position in Rhythm Pharmaceuticals by 16.8% in the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock worth $61,176,000 after purchasing an additional 167,700 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Rhythm Pharmaceuticals by 14.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock valued at $58,208,000 after acquiring an additional 143,800 shares during the last quarter. Barclays PLC raised its stake in shares of Rhythm Pharmaceuticals by 79.6% in the third quarter. Barclays PLC now owns 106,397 shares of the company’s stock valued at $5,574,000 after acquiring an additional 47,166 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. boosted its holdings in shares of Rhythm Pharmaceuticals by 1.9% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock worth $126,624,000 after acquiring an additional 45,648 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have recently commented on RYTM shares. TD Cowen increased their target price on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Oppenheimer started coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They set an “outperform” rating and a $76.00 target price on the stock. HC Wainwright raised their price target on Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the company a “buy” rating in a report on Monday. Jefferies Financial Group initiated coverage on Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price target on the stock. Finally, The Goldman Sachs Group increased their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $68.27.

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM opened at $52.40 on Tuesday. The stock’s 50-day moving average is $56.91 and its 200-day moving average is $54.39. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The firm has a market cap of $3.22 billion, a P/E ratio of -12.10 and a beta of 2.14.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced 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 firm had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, CFO Hunter C. Smith sold 2,215 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $126,742.30. Following the completion of the transaction, the chief financial officer now directly owns 109,929 shares in the company, valued at approximately $6,290,137.38. The trade was a 1.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $76,129.83. Following the transaction, the insider now owns 2,657 shares of the company’s stock, valued at $157,905.51. This represents a 32.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,787 shares of company stock worth $1,901,443 over the last ninety days. 5.60% of the stock is currently owned by corporate insiders.

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.