Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Acquired by MetLife Investment Management LLC

MetLife Investment Management LLC lifted its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 5.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 33,498 shares of the company’s stock after purchasing an additional 1,846 shares during the period. MetLife Investment Management LLC’s holdings in Rhythm Pharmaceuticals were worth $1,875,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. First Trust Advisors LP grew its holdings in Rhythm Pharmaceuticals by 67.2% in the 4th quarter. First Trust Advisors LP now owns 118,337 shares of the company’s stock valued at $6,625,000 after buying an additional 47,575 shares in the last quarter. Farringdon Capital Ltd. acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter valued at about $384,000. Marshall Wace LLP grew its holdings in shares of Rhythm Pharmaceuticals by 70.4% in the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock valued at $38,783,000 after purchasing an additional 286,188 shares during the period. EAM Global Investors LLC acquired a new stake in Rhythm Pharmaceuticals during the fourth quarter worth about $3,187,000. Finally, EAM Investors LLC purchased a new position in Rhythm Pharmaceuticals during the fourth quarter worth about $3,531,000.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, EVP Yann Mazabraud sold 75,000 shares of the firm’s 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 sale, the executive vice president now owns 40,370 shares of the company’s stock, valued at $2,078,247.60. This trade represents a 65.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pamela J. Cramer sold 20,760 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $60.14, for a total transaction of $1,248,506.40. Following the completion of the transaction, the insider now owns 19,209 shares of the company’s stock, valued at $1,155,229.26. This represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,641 shares of company stock valued at $8,112,177 in the last quarter. Corporate insiders own 5.60% of the company’s stock.

Rhythm Pharmaceuticals Stock Up 1.3 %

Rhythm Pharmaceuticals stock opened at $65.22 on Wednesday. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58. The firm has a market cap of $4.12 billion, a PE ratio of -15.06 and a beta of 2.32. The company’s 50 day moving average is $55.32 and its two-hundred day moving average is $56.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $41.83 million during 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.

Analyst Ratings Changes

Several analysts have recently weighed in on RYTM shares. HC Wainwright reissued a “buy” rating and issued a $80.00 price target (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Needham & Company LLC reissued a “buy” rating and set a $66.00 target price on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Bank of America upgraded Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Monday, April 7th. Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective 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. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of “Buy” and an average target price of $74.92.

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.