Castleark Management LLC Has $1.03 Million Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Castleark Management LLC cut its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,390 shares of the company’s stock after selling 870 shares during the period. Castleark Management LLC’s holdings in Rhythm Pharmaceuticals were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. lifted its holdings in shares of Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after purchasing an additional 400 shares in the last quarter. Raleigh Capital Management Inc. bought a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $37,000. R Squared Ltd bought a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth $44,000. Finally, State of Wyoming acquired a new position in Rhythm Pharmaceuticals during the fourth quarter worth $61,000.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RYTM shares. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Needham & Company LLC increased their price target on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Canaccord Genuity Group boosted their price target on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company upped their price objective on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an “overweight” rating in a research note on Monday, April 7th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, Rhythm Pharmaceuticals has an average rating of “Buy” and a consensus target price of $75.38.

Rhythm Pharmaceuticals Price Performance

NASDAQ:RYTM opened at $62.41 on Thursday. The company has a market cap of $3.97 billion, a P/E ratio of -14.41 and a beta of 2.36. The firm’s fifty day moving average price is $58.43 and its two-hundred day moving average price is $57.60. 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, May 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm had revenue of $37.72 million during the quarter, compared to the consensus estimate of $40.43 million. During the same quarter last year, the firm earned ($2.35) earnings per share. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Pamela J. Cramer sold 7,031 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $65.09, for a total transaction of $457,647.79. Following the sale, the insider now owns 19,209 shares of the company’s stock, valued at $1,250,313.81. This represents a 26.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Yann Mazabraud sold 6,745 shares of the firm’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $65.08, for a total value of $438,964.60. Following the transaction, the executive vice president now owns 37,655 shares in the company, valued at approximately $2,450,587.40. This trade represents a 15.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,630 shares of company stock worth $7,107,346 in the last quarter. 6.10% of the stock is currently owned by corporate insiders.

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.