Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Orbimed Advisors LLC

Orbimed Advisors LLC reduced its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 8.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 400,000 shares of the company’s stock after selling 35,900 shares during the quarter. Orbimed Advisors LLC’s holdings in Rhythm Pharmaceuticals were worth $22,392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RYTM. SRS Capital Advisors Inc. lifted its stake 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 valued at $25,000 after buying an additional 400 shares during the period. Raleigh Capital Management Inc. purchased a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth $37,000. R Squared Ltd purchased a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at $44,000. Finally, KBC Group NV grew its position in shares of 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 during the period.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Jennifer Kayden Lee sold 1,815 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $56.39, for a total value of $102,347.85. Following the completion of the transaction, the executive vice president now owns 3,598 shares in the company, valued at $202,891.22. This represents a 33.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Hunter C. Smith sold 2,215 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $126,742.30. Following the sale, the chief financial officer now owns 109,929 shares in the company, valued at $6,290,137.38. This represents a 1.98% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 145,454 shares of company stock worth $8,125,729. 5.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Morgan Stanley reissued an “overweight” rating and issued a $72.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Bank of America raised shares of 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. Wells Fargo & Company upped their price target on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an “overweight” rating in a research report on Monday, April 7th. Needham & Company LLC lifted their price target on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Finally, Canaccord Genuity Group upped their price objective on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, April 8th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $75.38.

Rhythm Pharmaceuticals Trading Up 2.8%

NASDAQ:RYTM opened at $58.97 on Tuesday. The firm’s fifty day simple moving average is $56.95 and its 200 day simple moving average is $57.10. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of -13.62 and a beta of 2.36.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company had revenue of $37.72 million for the quarter, compared to analyst estimates of $40.43 million. During the same quarter in the prior year, the firm earned ($2.35) EPS. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. On average, analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

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.