Gotham Asset Management LLC Sells 2,685 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Gotham Asset Management LLC lowered its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 28.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,786 shares of the company’s stock after selling 2,685 shares during the period. Gotham Asset Management LLC’s holdings in Rhythm Pharmaceuticals were worth $380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. SRS Capital Advisors Inc. lifted its stake in shares of Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after purchasing an additional 400 shares during the period. Raleigh Capital Management Inc. purchased a new stake in Rhythm Pharmaceuticals during the 4th quarter valued at approximately $28,000. SBI Securities Co. Ltd. purchased a new position in shares of Rhythm Pharmaceuticals in the fourth quarter valued at $37,000. R Squared Ltd purchased a new position in shares of Rhythm Pharmaceuticals in the fourth quarter valued at $44,000. Finally, KBC Group NV grew its holdings in shares of Rhythm Pharmaceuticals by 78.2% in the fourth quarter. KBC Group NV now owns 2,251 shares of the company’s stock valued at $126,000 after purchasing an additional 988 shares in the last quarter.

Insider Transactions at Rhythm Pharmaceuticals

In related news, EVP Yann Mazabraud sold 75,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $51.48, for a total value of $3,861,000.00. Following the completion of the transaction, the executive vice president now directly owns 40,370 shares of the company’s stock, valued at approximately $2,078,247.60. This represents a 65.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pamela J. Cramer sold 7,031 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $65.09, for a total value of $457,647.79. Following the completion of the transaction, the insider now directly owns 19,209 shares of the company’s stock, valued at approximately $1,250,313.81. This represents a 26.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,630 shares of company stock valued at $7,107,346 in the last three months. 6.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RYTM has been the subject of several recent analyst reports. Stifel Nicolaus began coverage on shares of Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They set a “buy” rating and a $78.00 price objective for the company. Canaccord Genuity Group lifted their price objective on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, April 8th. Wells Fargo & Company lifted their target price on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an “overweight” rating in a research note on Monday, April 7th. Needham & Company LLC lifted their target price on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley restated an “overweight” rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $75.38.

Rhythm Pharmaceuticals Trading Up 4.3%

Rhythm Pharmaceuticals stock opened at $63.87 on Wednesday. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58. The stock’s 50 day simple moving average is $58.20 and its two-hundred day simple moving average is $57.57. The firm has a market cap of $4.06 billion, a PE ratio of -14.75 and a beta of 2.36.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.12). The company had revenue of $37.72 million during the quarter, compared to analysts’ expectations of $40.43 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.35) EPS. On average, equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS 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.