Quest Partners LLC Purchases 7,505 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Quest Partners LLC raised its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 451.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,167 shares of the company’s stock after acquiring an additional 7,505 shares during the quarter. Quest Partners LLC’s holdings in Rhythm Pharmaceuticals were worth $480,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Driehaus Capital Management LLC raised its stake in Rhythm Pharmaceuticals by 38.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company’s stock valued at $48,548,000 after purchasing an additional 326,865 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Rhythm Pharmaceuticals by 116.1% during the first quarter. Canada Pension Plan Investment Board now owns 577,000 shares of the company’s stock valued at $25,001,000 after buying an additional 310,000 shares during the last quarter. Candriam S.C.A. purchased a new position in shares of Rhythm Pharmaceuticals in the second quarter worth $11,143,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Rhythm Pharmaceuticals by 32.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 967,243 shares of the company’s stock worth $39,715,000 after acquiring an additional 236,600 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Rhythm Pharmaceuticals by 157.7% during the second quarter. Nisa Investment Advisors LLC now owns 374,347 shares of the company’s stock valued at $15,371,000 after acquiring an additional 229,056 shares in the last quarter.

Rhythm Pharmaceuticals Stock Up 1.5 %

NASDAQ RYTM opened at $59.94 on Friday. Rhythm Pharmaceuticals, Inc. has a 52 week low of $31.52 and a 52 week high of $68.58. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of -13.84 and a beta of 2.09. The company has a fifty day moving average of $53.35 and a two-hundred day moving average of $47.16.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. During the same period in the previous year, the company earned ($0.76) EPS. The firm’s revenue for the quarter was up 47.6% compared to the same quarter last year. Equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.36 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. JMP Securities initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price target on the stock. Bank of America increased their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. HC Wainwright upped their price objective on Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Guggenheim began coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a “buy” rating and a $70.00 target price for the company. Finally, TD Cowen upped their price target on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.30.

Insider Activity

In other news, insider Joseph Shulman sold 13,281 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $66.44, for a total transaction of $882,389.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jennifer Kayden Lee sold 66,861 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the completion of the transaction, the executive vice president now directly owns 972 shares in the company, valued at $64,472.76. This represents a 98.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,681 shares of company stock valued at $8,734,825. 5.60% of the stock is currently owned by insiders.

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.