22,192 Shares in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. purchased a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 22,192 shares of the company’s stock, valued at approximately $1,176,000.

Other large investors have also added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in shares of Rhythm Pharmaceuticals by 2.5% in the 4th quarter. Rhumbline Advisers now owns 82,731 shares of the company’s stock valued at $4,631,000 after acquiring an additional 2,017 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of Rhythm Pharmaceuticals during the fourth quarter worth $1,960,000. Principal Financial Group Inc. lifted its position in Rhythm Pharmaceuticals by 13.2% during the fourth quarter. Principal Financial Group Inc. now owns 36,884 shares of the company’s stock valued at $2,065,000 after purchasing an additional 4,298 shares during the period. Cannon Financial Strategists Inc. purchased a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at $560,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at $328,000.

Insider Activity

In related news, CAO Christopher Paul German sold 2,069 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 1,889 shares in the company, valued at approximately $126,921.91. The trade was a 52.27% decrease in their ownership of the stock. The sale 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 20,760 shares of the 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 completion of the transaction, the insider now directly owns 19,209 shares of the company’s stock, valued at approximately $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 61,730 shares of company stock worth $3,863,822 over the last 90 days. 6.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on RYTM shares. Bank of America upgraded 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. Morgan Stanley reiterated an “overweight” rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Needham & Company LLC boosted their price target on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Stifel Nicolaus raised their price objective on shares of Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Finally, Canaccord Genuity Group lifted their target price 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. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $76.62.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock opened at $61.97 on Wednesday. Rhythm Pharmaceuticals, Inc. has a 1-year low of $39.46 and a 1-year high of $69.89. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -22.05 and a beta of 2.30. The stock has a 50 day simple moving average of $62.20 and a 200-day simple moving average of $57.94.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results 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 739.62% and a negative net margin of 123.26%. Rhythm Pharmaceuticals’s revenue was up 25.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.35) EPS. Analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

About Rhythm Pharmaceuticals

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.