Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,226,938 shares of the company’s stock after purchasing an additional 212,370 shares during the quarter. Vanguard Group Inc. owned approximately 5.37% of Rhythm Pharmaceuticals worth $148,342,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of Rhythm Pharmaceuticals by 1.7% during the 4th quarter. Wellington Management Group LLP now owns 139,802 shares of the company’s stock valued at $6,427,000 after buying an additional 2,359 shares in the last quarter. Virtu Financial LLC purchased a new position in Rhythm Pharmaceuticals during the fourth quarter valued at $1,218,000. Perceptive Advisors LLC grew its position in shares of Rhythm Pharmaceuticals by 465.6% in the fourth quarter. Perceptive Advisors LLC now owns 2,154,110 shares of the company’s stock valued at $99,024,000 after purchasing an additional 1,773,282 shares during the period. Quarry LP purchased a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth about $69,000. Finally, Old Well Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $211,000.

Rhythm Pharmaceuticals Stock Down 3.6 %

Shares of NASDAQ:RYTM opened at $40.81 on Friday. Rhythm Pharmaceuticals, Inc. has a 52-week low of $15.50 and a 52-week high of $52.57. The stock has a market cap of $2.49 billion, a P/E ratio of -8.81 and a beta of 2.04. The business has a fifty day moving average of $39.92 and a two-hundred day moving average of $42.17.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($2.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.34) by ($0.01). Rhythm Pharmaceuticals had a negative return on equity of 179.26% and a negative net margin of 297.91%. The firm had revenue of $26.00 million for the quarter, compared to analyst estimates of $26.90 million. During the same quarter in the previous year, the business posted ($0.92) earnings per share. Rhythm Pharmaceuticals’s revenue for the quarter was up 126.1% on a year-over-year basis. On average, equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.44 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on RYTM. Bank of America lowered Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $49.00 to $42.00 in a research note on Wednesday, May 8th. Wells Fargo & Company reduced their price objective on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Needham & Company LLC lowered their target price on shares of Rhythm Pharmaceuticals from $50.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Finally, Canaccord Genuity Group dropped their target price on shares of Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.33.

Insider Transactions at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 3,984 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $38.47, for a total value of $153,264.48. Following the transaction, the insider now directly owns 30 shares in the company, valued at $1,154.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

Rhythm Pharmaceuticals 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.