Los Angeles Capital Management LLC Invests $245,000 in Rhythm Pharmaceuticals, Inc. $RYTM

Los Angeles Capital Management LLC purchased a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 3,872 shares of the company’s stock, valued at approximately $245,000.

Other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in shares of Rhythm Pharmaceuticals by 1,386.2% in the first quarter. PNC Financial Services Group Inc. now owns 4,518 shares of the company’s stock valued at $239,000 after acquiring an additional 4,214 shares in the last quarter. Rhumbline Advisers increased its position in shares of Rhythm Pharmaceuticals by 3.6% during the first quarter. Rhumbline Advisers now owns 85,719 shares of the company’s stock worth $4,541,000 after purchasing an additional 2,988 shares in the last quarter. Siren L.L.C. acquired a new position in Rhythm Pharmaceuticals in the 1st quarter valued at $14,701,000. Voleon Capital Management LP purchased a new position in Rhythm Pharmaceuticals in the 1st quarter valued at $732,000. Finally, Advisors Asset Management Inc. boosted its stake in Rhythm Pharmaceuticals by 44.9% during the 1st quarter. Advisors Asset Management Inc. now owns 10,250 shares of the company’s stock worth $543,000 after purchasing an additional 3,176 shares during the last quarter.

Analysts Set New Price Targets

RYTM has been the subject of a number of recent research reports. Morgan Stanley increased their target price on shares of Rhythm Pharmaceuticals from $122.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Canaccord Genuity Group increased their price objective on shares of Rhythm Pharmaceuticals from $105.00 to $114.00 and gave the company a “buy” rating in a report on Monday, November 10th. Wall Street Zen lowered shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. JMP Securities upped their price target on Rhythm Pharmaceuticals from $135.00 to $142.00 and gave the company a “market outperform” rating in a research report on Thursday, September 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $113.23.

Insider Buying and Selling

In other news, insider Joseph Shulman sold 9,748 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $115.24, for a total value of $1,123,359.52. Following the transaction, the insider owned 8,509 shares of the company’s stock, valued at $980,577.16. This represents a 53.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 31,188 shares of company stock valued at $3,483,583 in the last quarter. 6.10% of the stock is owned by insiders.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock opened at $99.41 on Monday. The firm has a 50 day simple moving average of $102.50 and a 200-day simple moving average of $86.25. Rhythm Pharmaceuticals, Inc. has a 1-year low of $45.90 and a 1-year high of $116.00. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of -33.03 and a beta of 2.12.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.10). Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%. The firm had revenue of $51.30 million for the quarter, compared to analysts’ expectations of $50.71 million. Equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal 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.