Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock Holdings Increased by Invesco Ltd.

Invesco Ltd. raised its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 14.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 302,846 shares of the company’s stock after buying an additional 38,429 shares during the period. Invesco Ltd. owned about 0.49% of Rhythm Pharmaceuticals worth $16,953,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RYTM. Barclays PLC lifted its position in shares of Rhythm Pharmaceuticals by 79.6% during the 3rd 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. Geode Capital Management LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock valued at $65,824,000 after purchasing an additional 3,499 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Rhythm Pharmaceuticals by 11.5% in the 3rd quarter. Franklin Resources Inc. now owns 259,416 shares of the company’s stock valued at $13,033,000 after purchasing an additional 26,739 shares during the period. Principal Financial Group Inc. increased its stake in Rhythm Pharmaceuticals by 241.9% in the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock worth $1,707,000 after purchasing an additional 23,054 shares in the last quarter. Finally, Raleigh Capital Management Inc. purchased a new stake in Rhythm Pharmaceuticals during the fourth quarter valued at about $28,000.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock opened at $61.74 on Monday. The business has a 50 day simple moving average of $54.79 and a 200 day simple moving average of $55.73. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The company has a market capitalization of $3.90 billion, a PE ratio of -14.26 and a beta of 2.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate 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 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RYTM shares. Canaccord Genuity Group boosted 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, April 8th. JMP Securities restated a “market outperform” rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target on the stock. Bank of America raised Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Monday, April 7th. Finally, Wells Fargo & Company lifted their target price on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an “overweight” rating in a research note on Monday, April 7th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $74.92.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, EVP Yann Mazabraud sold 17,750 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $60.99, for a total transaction of $1,082,572.50. Following the sale, the executive vice president now directly owns 22,620 shares in the company, valued at $1,379,593.80. This represents a 43.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pamela J. Cramer sold 20,760 shares of the firm’s stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $60.14, for a total value of $1,248,506.40. Following the sale, the insider now directly owns 19,209 shares of the company’s stock, valued at $1,155,229.26. This represents a 51.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,641 shares of company stock worth $8,112,177 over the last ninety 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.