Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock Position Increased by Geode Capital Management LLC

Geode Capital Management LLC increased its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,256,188 shares of the company’s stock after buying an additional 3,499 shares during the quarter. Geode Capital Management LLC owned about 2.04% of Rhythm Pharmaceuticals worth $65,824,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of RYTM. Frazier Life Sciences Management L.P. raised its position in shares of Rhythm Pharmaceuticals by 1.9% during the third quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock worth $126,624,000 after purchasing an additional 45,648 shares during the period. Barclays PLC boosted its holdings in shares of Rhythm Pharmaceuticals by 79.6% in the third quarter. Barclays PLC now owns 106,397 shares of the company’s stock worth $5,574,000 after buying an additional 47,166 shares during the period. Castleark Management LLC increased its position in shares of Rhythm Pharmaceuticals by 1.3% in the third quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock worth $1,009,000 after acquiring an additional 250 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Rhythm Pharmaceuticals by 0.8% during the third quarter. Janus Henderson Group PLC now owns 598,122 shares of the company’s stock valued at $31,335,000 after acquiring an additional 4,480 shares during the period. Finally, HighVista Strategies LLC lifted its position in shares of Rhythm Pharmaceuticals by 160.6% in the 3rd quarter. HighVista Strategies LLC now owns 37,426 shares of the company’s stock valued at $1,961,000 after acquiring an additional 23,064 shares in the last quarter.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM opened at $56.12 on Friday. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The company’s fifty day moving average price is $56.39 and its 200 day moving average price is $50.06. The company has a market capitalization of $3.45 billion, a PE ratio of -12.96 and a beta of 2.14.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.07. The business had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm’s revenue was up 47.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.76) EPS. Analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.34 earnings per share for the current year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 13,281 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $66.44, for a total transaction of $882,389.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Pamela J. Cramer sold 4,688 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $65.00, for a total value of $304,720.00. Following the transaction, the insider now directly owns 13,500 shares in the company, valued at $877,500. This trade represents a 25.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,830 shares of company stock worth $5,622,000. 5.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RYTM has been the topic of a number of research analyst reports. Guggenheim initiated coverage on Rhythm Pharmaceuticals in a report on Monday, October 21st. They set a “buy” rating and a $70.00 price target on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a report on Friday. They set an “outperform” rating and a $76.00 price target for the company. Needham & Company LLC upped their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, TD Cowen lifted their target price 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.80.

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.