Loomis Sayles & Co. L P Sells 18,143 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Loomis Sayles & Co. L P decreased its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 618,485 shares of the company’s stock after selling 18,143 shares during the quarter. Loomis Sayles & Co. L P owned 1.01% of Rhythm Pharmaceuticals worth $34,623,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Victory Capital Management Inc. boosted its holdings in Rhythm Pharmaceuticals by 158.0% during the 3rd quarter. Victory Capital Management Inc. now owns 18,186 shares of the company’s stock valued at $953,000 after acquiring an additional 11,137 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Rhythm Pharmaceuticals during the third quarter valued at $649,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Rhythm Pharmaceuticals by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 433,866 shares of the company’s stock worth $22,730,000 after purchasing an additional 5,908 shares during the last quarter. FMR LLC increased its stake in Rhythm Pharmaceuticals by 79.7% in the 3rd quarter. FMR LLC now owns 50,295 shares of the company’s stock worth $2,635,000 after buying an additional 22,306 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Rhythm Pharmaceuticals by 307.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company’s stock valued at $756,000 after buying an additional 10,882 shares in the last quarter.

Rhythm Pharmaceuticals Stock Down 1.5 %

NASDAQ RYTM opened at $53.49 on Friday. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58. The company has a 50 day moving average price of $55.25 and a 200 day moving average price of $55.00. The firm has a market cap of $3.38 billion, a PE ratio of -12.35 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business had revenue of $41.83 million for the quarter, compared to analyst estimates of $38.48 million. On average, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, EVP Yann Mazabraud sold 75,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were 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 $2,078,247.60. This trade represents a 65.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $76,129.83. Following the completion of the sale, the insider now owns 2,657 shares of the company’s stock, valued at $157,905.51. This trade represents a 32.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 108,131 shares of company stock worth $5,781,098. 5.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RYTM shares. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 target price on the stock. JMP Securities restated a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They set a “buy” rating and a $78.00 target price for the company. Morgan Stanley reissued an “overweight” rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Finally, Oppenheimer assumed coverage on Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an “outperform” rating and a $76.00 price target on the stock. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.46.

Rhythm Pharmaceuticals 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.