82,755 Shares in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Purchased by Cinctive Capital Management LP

Cinctive Capital Management LP acquired a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 82,755 shares of the company’s stock, valued at approximately $4,633,000. Cinctive Capital Management LP owned approximately 0.13% of Rhythm Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. boosted its holdings in 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 acquiring an additional 400 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in Rhythm Pharmaceuticals during the 4th quarter worth approximately $37,000. R Squared Ltd bought a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at $44,000. Finally, KBC Group NV boosted 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 buying an additional 988 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RYTM. Oppenheimer started coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an “outperform” rating and a $76.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Canaccord Genuity Group lifted their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Jefferies Financial Group assumed coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 target price for the company. Finally, HC Wainwright reissued a “buy” rating and set a $70.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, March 24th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $69.46.

Rhythm Pharmaceuticals Trading Up 3.9 %

NASDAQ:RYTM opened at $51.96 on Thursday. The firm has a fifty day simple moving average of $54.96 and a two-hundred day simple moving average of $55.12. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of -12.00 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its 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 business 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%. Equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In related news, CAO Christopher Paul German sold 635 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70. Following the transaction, the chief accounting officer now directly owns 2,070 shares in the company, valued at approximately $118,445.40. The trade was a 23.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Yann Mazabraud sold 75,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction 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 approximately $2,078,247.60. This trade represents a 65.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,131 shares of company stock valued at $5,781,098 over the last 90 days. Insiders own 5.60% of the company’s stock.

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.