Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Bought by Hood River Capital Management LLC

Hood River Capital Management LLC raised its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 643,691 shares of the company’s stock after purchasing an additional 29,093 shares during the period. Hood River Capital Management LLC’s holdings in Rhythm Pharmaceuticals were worth $36,034,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RYTM. SRS Capital Advisors Inc. grew its stake in Rhythm Pharmaceuticals by 740.7% in the 4th 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 period. Raleigh Capital Management Inc. purchased a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth about $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $37,000. R Squared Ltd purchased a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $44,000. Finally, KBC Group NV boosted its holdings in Rhythm Pharmaceuticals by 78.2% in the 4th 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 last quarter.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, CEO David P. Meeker sold 4,278 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $254,241.54. Following the sale, the chief executive officer now directly owns 189,927 shares of the company’s stock, valued at approximately $11,287,361.61. The trade was a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christopher Paul German sold 635 shares of the stock in a transaction on 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 owns 2,070 shares in the company, valued at $118,445.40. This trade represents a 23.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,641 shares of company stock valued at $8,112,177 over the last quarter. Corporate insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on RYTM shares. Needham & Company LLC reissued a “buy” rating and set a $66.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Stifel Nicolaus assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They set a “buy” rating and a $78.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an “overweight” rating in a report on Monday, April 7th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $74.92.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM stock opened at $59.23 on Wednesday. The firm has a market cap of $3.74 billion, a P/E ratio of -13.68 and a beta of 2.32. The firm’s 50 day moving average price is $54.84 and its 200-day moving average price is $55.81. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58.

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