Bryce Point Capital LLC Invests $1.10 Million in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Bryce Point Capital LLC bought a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,607 shares of the company’s stock, valued at approximately $1,098,000.

Several other large investors have also added to or reduced their stakes in the business. SRS Capital Advisors Inc. boosted its holdings in shares of Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after buying an additional 400 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter valued at $28,000. SBI Securities Co. Ltd. bought a new position in Rhythm Pharmaceuticals during the fourth quarter worth $37,000. R Squared Ltd acquired a new stake in Rhythm Pharmaceuticals in the fourth quarter worth $44,000. Finally, KBC Group NV increased its stake in 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.

Rhythm Pharmaceuticals Stock Up 3.9 %

Shares of NASDAQ:RYTM opened at $51.96 on Thursday. The firm has a market capitalization of $3.29 billion, a PE ratio of -12.00 and a beta of 2.32. The company has a 50-day moving average price of $54.96 and a two-hundred day moving average price of $55.12. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58.

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

Insider Activity

In other news, CAO Christopher Paul German sold 635 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $36,334.70. Following the completion of the transaction, the chief accounting officer now directly owns 2,070 shares in the company, valued at approximately $118,445.40. This trade represents a 23.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Shulman sold 1,281 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $76,129.83. Following the transaction, the insider now directly owns 2,657 shares of the company’s stock, valued at approximately $157,905.51. This represents a 32.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,131 shares of company stock worth $5,781,098. 5.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. The Goldman Sachs Group raised their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, March 24th. Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 target price on the stock. Oppenheimer assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price target for the company. Finally, Canaccord Genuity Group upped their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $69.46.

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.