Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Bought by ZRC Wealth Management LLC

ZRC Wealth Management LLC lifted its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 392.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,971 shares of the company’s stock after purchasing an additional 1,571 shares during the period. ZRC Wealth Management LLC’s holdings in Rhythm Pharmaceuticals were worth $85,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Rhythm Pharmaceuticals by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 3,226,938 shares of the company’s stock worth $148,342,000 after purchasing an additional 212,370 shares during the last quarter. Polar Capital Holdings Plc increased its holdings in shares of Rhythm Pharmaceuticals by 11.1% in the 3rd quarter. Polar Capital Holdings Plc now owns 2,500,000 shares of the company’s stock valued at $57,312,000 after acquiring an additional 250,000 shares during the last quarter. Perceptive Advisors LLC lifted its stake in Rhythm Pharmaceuticals by 465.6% during the fourth quarter. Perceptive Advisors LLC now owns 2,154,110 shares of the company’s stock worth $99,024,000 after purchasing an additional 1,773,282 shares during the last quarter. FMR LLC lifted its stake in Rhythm Pharmaceuticals by 23.8% during the third quarter. FMR LLC now owns 868,474 shares of the company’s stock worth $19,910,000 after purchasing an additional 166,940 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Rhythm Pharmaceuticals by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 397,685 shares of the company’s stock valued at $18,282,000 after purchasing an additional 12,937 shares during the last quarter.

Insider Buying and Selling at Rhythm Pharmaceuticals

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

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM opened at $40.81 on Friday. The company’s fifty day moving average is $39.92 and its two-hundred day moving average is $42.17. Rhythm Pharmaceuticals, Inc. has a 52-week low of $15.50 and a 52-week high of $52.57. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -8.81 and a beta of 2.04.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results 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 net margin of 297.91% and a negative return on equity of 179.26%. The firm had revenue of $26.00 million for the quarter, compared to the consensus estimate of $26.90 million. During the same quarter in the prior year, the firm earned ($0.92) earnings per share. The company’s revenue was up 126.1% on a year-over-year basis. As a group, sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.