GAMMA Investing LLC Grows Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

GAMMA Investing LLC boosted its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 7,305.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 14,885 shares of the company’s stock after purchasing an additional 14,684 shares during the period. GAMMA Investing LLC’s holdings in Rhythm Pharmaceuticals were worth $788,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RYTM. Rhumbline Advisers raised its stake in Rhythm Pharmaceuticals by 2.5% in the fourth quarter. Rhumbline Advisers now owns 82,731 shares of the company’s stock valued at $4,631,000 after buying an additional 2,017 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Rhythm Pharmaceuticals during the fourth quarter worth about $1,960,000. Principal Financial Group Inc. grew its position in shares of Rhythm Pharmaceuticals by 13.2% in 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 last quarter. Cannon Financial Strategists Inc. acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $560,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Rhythm Pharmaceuticals during the fourth quarter valued at approximately $328,000.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America raised shares of Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Monday, April 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, April 8th. 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 report on Thursday, May 29th. Wells Fargo & Company lifted their price target on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an “overweight” rating in a report on Monday, April 7th. Finally, Needham & Company LLC lifted their price objective on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $76.62.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 2,069 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $67.19, for a total value 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 $126,921.91. The trade was a 52.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pamela J. Cramer sold 7,031 shares of the business’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $68.05, for a total transaction of $478,459.55. Following the completion of the sale, the insider now owns 19,209 shares of the company’s stock, valued at $1,307,172.45. The trade was a 26.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,730 shares of company stock valued at $3,863,822. Corporate insiders own 6.10% of the company’s stock.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM opened at $61.97 on Wednesday. The firm’s 50 day moving average is $62.20 and its 200-day moving average is $57.94. The stock has a market capitalization of $3.94 billion, a P/E ratio of -22.05 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a 12-month low of $39.46 and a 12-month high of $69.89.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Wednesday, May 7th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative return on equity of 739.62% and a negative net margin of 123.26%. The firm had revenue of $37.72 million during the quarter, compared to analysts’ expectations of $40.43 million. During the same period last year, the business earned ($2.35) earnings per share. The business’s revenue was up 25.9% on a year-over-year basis. As a group, equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS 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.