Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Purchased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 24.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 685,152 shares of the company’s stock after buying an additional 134,622 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Rhythm Pharmaceuticals were worth $38,355,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in RYTM. SRS Capital Advisors Inc. lifted its position in shares of Rhythm Pharmaceuticals by 740.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after purchasing an additional 400 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Rhythm Pharmaceuticals during the fourth quarter worth $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Rhythm Pharmaceuticals during the fourth quarter worth $37,000. R Squared Ltd acquired a new position in shares of Rhythm Pharmaceuticals during the fourth quarter worth $44,000. Finally, KBC Group NV lifted its position in shares of Rhythm Pharmaceuticals by 78.2% during the fourth quarter. KBC Group NV now owns 2,251 shares of the company’s stock worth $126,000 after purchasing an additional 988 shares in the last quarter.

Analysts Set New Price Targets

RYTM has been the topic of a number of recent research reports. Jefferies Financial Group assumed 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. Canaccord Genuity Group upped 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. 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 report on Monday, April 7th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $72.00 price target on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $74.92.

Insider Buying and Selling

In related news, EVP Yann Mazabraud sold 75,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 40,370 shares of the company’s stock, valued at $2,078,247.60. This represents a 65.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Christopher Paul German sold 635 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the completion of the sale, the chief accounting officer now directly owns 2,070 shares of the company’s stock, valued at $118,445.40. The trade was a 23.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,641 shares of company stock valued at $8,112,177 over the last 90 days. 5.60% of the stock is currently owned by company insiders.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock opened at $65.22 on Wednesday. The company has a 50-day simple moving average of $55.32 and a 200-day simple moving average of $56.30. The firm has a market capitalization of $4.12 billion, a P/E ratio of -15.06 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The firm had revenue of $41.83 million for the quarter, compared to the consensus estimate of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. As a group, sell-side analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

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.