Walleye Capital LLC Buys Shares of 144,342 Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Walleye Capital LLC bought a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 144,342 shares of the company's stock, valued at approximately $8,080,000. Walleye Capital LLC owned approximately 0.23% of Rhythm Pharmaceuticals at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC grew its position in Rhythm Pharmaceuticals by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company's stock worth $65,824,000 after acquiring an additional 3,499 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Rhythm Pharmaceuticals by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company's stock valued at $24,645,000 after purchasing an additional 6,384 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in Rhythm Pharmaceuticals by 14.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 375,349 shares of the company's stock worth $21,012,000 after acquiring an additional 46,010 shares during the last quarter. Invesco Ltd. grew its holdings in Rhythm Pharmaceuticals by 14.5% during the fourth quarter. Invesco Ltd. now owns 302,846 shares of the company's stock valued at $16,953,000 after purchasing an additional 38,429 shares during the period. Finally, Franklin Resources Inc. increased its stake in Rhythm Pharmaceuticals by 3.4% in the fourth quarter. Franklin Resources Inc. now owns 268,205 shares of the company's stock valued at $15,014,000 after purchasing an additional 8,789 shares in the last quarter.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, EVP Jennifer Kayden Lee sold 1,815 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $56.39, for a total value of $102,347.85. Following the completion of the transaction, the executive vice president now directly owns 3,598 shares in the company, valued at approximately $202,891.22. This represents a 33.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Yann Mazabraud sold 75,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $51.48, for a total value of $3,861,000.00. Following the completion of the sale, the executive vice president now owns 40,370 shares of the company's stock, valued at $2,078,247.60. The trade was a 65.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,641 shares of company stock valued at $8,112,177 over the last three months. 5.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RYTM. Stifel Nicolaus started coverage on shares of Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price target for the company. JMP Securities reissued a "market outperform" rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Canaccord Genuity Group raised their price target on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. Bank of America upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price objective for the company in a research report on Monday, April 7th. Finally, HC Wainwright reissued a "buy" rating and issued a $80.00 price target (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $74.92.

Rhythm Pharmaceuticals Trading Up 0.7 %

Shares of RYTM traded up $0.40 on Friday, reaching $61.74. The company's stock had a trading volume of 628,803 shares, compared to its average volume of 542,891. The stock has a market capitalization of $3.90 billion, a PE ratio of -14.26 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58. The firm has a fifty day moving average of $54.70 and a 200-day moving average of $55.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.03). The firm had revenue of $41.83 million for the quarter, compared to the consensus estimate of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. As a group, equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

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.