Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 0.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,255,799 shares of the company’s stock after selling 389 shares during the period. Geode Capital Management LLC owned about 2.04% of Rhythm Pharmaceuticals worth $70,316,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RYTM. Charles Schwab Investment Management Inc. lifted its position in Rhythm Pharmaceuticals by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company’s stock valued at $24,645,000 after acquiring an additional 6,384 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in Rhythm Pharmaceuticals by 14.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 375,349 shares of the company’s stock worth $21,012,000 after purchasing an additional 46,010 shares during the period. Franklin Resources Inc. increased its stake in Rhythm Pharmaceuticals by 3.4% in the fourth quarter. Franklin Resources Inc. now owns 268,205 shares of the company’s stock valued at $15,014,000 after purchasing an additional 8,789 shares during the period. JPMorgan Chase & Co. increased its stake in Rhythm Pharmaceuticals by 224.3% in the fourth quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company’s stock valued at $14,811,000 after purchasing an additional 182,993 shares during the period. Finally, Norges Bank acquired a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth about $11,512,000.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 17,750 shares of the business’s stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $60.99, for a total transaction of $1,082,572.50. Following the completion of the sale, the executive vice president now directly owns 22,620 shares in the company, valued at $1,379,593.80. The trade was a 43.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pamela J. Cramer sold 20,760 shares of the firm’s stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $60.14, for a total transaction of $1,248,506.40. Following the completion of the transaction, the insider now directly owns 19,209 shares in the company, valued at approximately $1,155,229.26. This represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,641 shares of company stock valued at $8,112,177. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RYTM has been the subject of a number of recent analyst reports. Bank of America upgraded shares of Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Monday, April 7th. Morgan Stanley reiterated an “overweight” rating and issued a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. 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 note on Tuesday. Finally, Oppenheimer assumed coverage on Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective for the company. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $74.92.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock opened at $59.55 on Friday. The stock has a market capitalization of $3.76 billion, a P/E ratio of -13.75 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. The firm’s 50-day moving average is $54.58 and its two-hundred day moving average is $55.29.

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

About Rhythm Pharmaceuticals

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.