Quest Partners LLC Has $68,000 Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Quest Partners LLC lifted its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 513.3% during the second quarter, HoldingsChannel.com reports. The fund owned 1,662 shares of the company’s stock after purchasing an additional 1,391 shares during the period. Quest Partners LLC’s holdings in Rhythm Pharmaceuticals were worth $68,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Rhythm Pharmaceuticals by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 397,685 shares of the company’s stock worth $18,282,000 after purchasing an additional 12,937 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Rhythm Pharmaceuticals by 14.2% during the fourth quarter. BNP Paribas Financial Markets now owns 63,085 shares of the company’s stock worth $2,900,000 after acquiring an additional 7,842 shares in the last quarter. Jump Financial LLC acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at about $588,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $234,000. Finally, Artisan Partners Limited Partnership acquired a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth about $12,477,000.

Rhythm Pharmaceuticals Stock Up 7.4 %

Shares of RYTM stock opened at $53.17 on Wednesday. Rhythm Pharmaceuticals, Inc. has a 12 month low of $20.97 and a 12 month high of $54.85. The company’s fifty day simple moving average is $47.73 and its 200-day simple moving average is $42.92. The firm has a market cap of $3.24 billion, a PE ratio of -11.48 and a beta of 2.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.16. The firm had revenue of $29.08 million for the quarter, compared to analysts’ expectations of $28.79 million. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The company’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.82) EPS. On average, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.44 earnings per share for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 5,313 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $50.01, for a total value of $265,703.13. Following the completion of the transaction, the insider now directly owns 30 shares in the company, valued at $1,500.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Pamela J. Cramer sold 49,006 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $45.15, for a total value of $2,212,620.90. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $609,525. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Shulman sold 5,313 shares of Rhythm Pharmaceuticals stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $50.01, for a total value of $265,703.13. Following the transaction, the insider now owns 30 shares of the company’s stock, valued at approximately $1,500.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,282 shares of company stock valued at $4,550,639. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RYTM. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 7th. JMP Securities started coverage on shares of Rhythm Pharmaceuticals in a report on Tuesday. They set an “outperform” rating and a $64.00 price objective on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

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.