American Century Companies Inc. Makes New Investment in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

American Century Companies Inc. acquired a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 33,766 shares of the company’s stock, valued at approximately $1,890,000. American Century Companies Inc. owned 0.05% of Rhythm Pharmaceuticals as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Frazier Life Sciences Management L.P. increased its stake in Rhythm Pharmaceuticals by 1.9% during the third 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 during the last quarter. Geode Capital Management LLC grew its holdings in shares of Rhythm Pharmaceuticals by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock worth $65,824,000 after purchasing an additional 3,499 shares during the period. Charles Schwab Investment Management Inc. increased its position in Rhythm Pharmaceuticals by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company’s stock worth $24,645,000 after purchasing an additional 6,384 shares in the last quarter. Franklin Resources Inc. raised its holdings in Rhythm Pharmaceuticals by 11.5% in the third quarter. Franklin Resources Inc. now owns 259,416 shares of the company’s stock valued at $13,033,000 after buying an additional 26,739 shares during the period. Finally, Barclays PLC lifted its position in Rhythm Pharmaceuticals by 79.6% during the third quarter. Barclays PLC now owns 106,397 shares of the company’s stock valued at $5,574,000 after buying an additional 47,166 shares in the last quarter.

Insider Activity

In other news, CFO Hunter C. Smith sold 1,678 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $99,723.54. Following the completion of the sale, the chief financial officer now owns 101,186 shares of the company’s stock, valued at $6,013,483.98. This trade represents a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Joseph Shulman sold 1,281 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $76,129.83. Following the completion of the sale, the insider now directly owns 2,657 shares of the company’s stock, valued at approximately $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 108,131 shares of company stock valued at $5,781,098 over the last three months. Insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on RYTM. Morgan Stanley reissued an “overweight” rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Canaccord Genuity Group raised their price target on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday. Stifel Nicolaus began coverage on shares of Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They issued a “buy” rating and a $78.00 price objective on the stock. Bank of America upgraded Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Monday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price target on shares of Rhythm Pharmaceuticals in a research note on Tuesday. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $74.92.

Rhythm Pharmaceuticals Trading Up 5.0 %

NASDAQ:RYTM opened at $57.73 on Wednesday. The company has a 50-day moving average of $54.57 and a 200-day moving average of $55.15. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of -13.33 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58.

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

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.