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

Rhumbline Advisers lifted its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 3.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 85,719 shares of the company’s stock after buying an additional 2,988 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of Rhythm Pharmaceuticals worth $4,541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Janus Henderson Group PLC grew its position in shares of Rhythm Pharmaceuticals by 103.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock worth $68,309,000 after buying an additional 621,432 shares in the last quarter. Marshall Wace LLP lifted its stake in Rhythm Pharmaceuticals by 70.4% during the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock worth $38,783,000 after purchasing an additional 286,188 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Rhythm Pharmaceuticals by 24.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 685,152 shares of the company’s stock worth $38,355,000 after purchasing an additional 134,622 shares during the last quarter. Hood River Capital Management LLC lifted its stake in Rhythm Pharmaceuticals by 4.7% during the fourth quarter. Hood River Capital Management LLC now owns 643,691 shares of the company’s stock worth $36,034,000 after purchasing an additional 29,093 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Rhythm Pharmaceuticals by 9.4% during the fourth quarter. Northern Trust Corp now owns 545,314 shares of the company’s stock worth $30,527,000 after purchasing an additional 46,848 shares during the last quarter.

Insider Buying and Selling

In other news, CAO Christopher Paul German sold 2,069 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $67.19, for a total transaction of $139,016.11. Following the completion of the transaction, the chief accounting officer now owns 1,889 shares of the company’s stock, valued at $126,921.91. The trade was a 52.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Pamela J. Cramer sold 20,760 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $60.14, for a total value of $1,248,506.40. Following the transaction, the insider now directly owns 19,209 shares of the company’s stock, valued at $1,155,229.26. This trade represents a 51.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,730 shares of company stock valued at $3,863,822 over the last quarter. Company insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

RYTM has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an “overweight” rating in a research note on Monday, April 7th. Needham & Company LLC boosted their target price on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Canaccord Genuity Group boosted their target price on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, April 8th. Stifel Nicolaus boosted their target price on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Finally, 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, April 7th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $76.62.

Rhythm Pharmaceuticals Trading Down 0.2%

NASDAQ:RYTM opened at $62.90 on Friday. The firm has a market cap of $4.00 billion, a P/E ratio of -14.53 and a beta of 2.30. The stock’s 50 day simple moving average is $62.07 and its 200-day simple moving average is $57.97. Rhythm Pharmaceuticals, Inc. has a 12-month low of $39.46 and a 12-month high of $69.89.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business had revenue of $37.72 million for the quarter, compared to analyst estimates of $40.43 million. During the same period in the prior year, the company earned ($2.35) EPS. The company’s revenue was up 25.9% on a year-over-year basis. Research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal 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.