Farringdon Capital Ltd. Buys New Shares in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Farringdon Capital Ltd. purchased a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,854 shares of the company's stock, valued at approximately $384,000.

Several other institutional investors have also recently made changes to their positions in RYTM. Geode Capital Management LLC boosted its position in Rhythm Pharmaceuticals by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company's stock worth $65,824,000 after purchasing an additional 3,499 shares during the period. Marshall Wace LLP lifted its holdings in Rhythm Pharmaceuticals by 70.4% during the 4th quarter. Marshall Wace LLP now owns 692,803 shares of the company's stock worth $38,783,000 after purchasing an additional 286,188 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Rhythm Pharmaceuticals by 1.5% in the 4th 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 period. Pictet Asset Management Holding SA grew its holdings in Rhythm Pharmaceuticals by 14.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 375,349 shares of the company's stock valued at $21,012,000 after buying an additional 46,010 shares in the last quarter. Finally, Invesco Ltd. increased its position in Rhythm Pharmaceuticals by 14.5% during the 4th quarter. Invesco Ltd. now owns 302,846 shares of the company's stock worth $16,953,000 after buying an additional 38,429 shares during the period.

Insider Activity at Rhythm Pharmaceuticals

In related news, EVP Yann Mazabraud sold 75,000 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $51.48, for a total value of $3,861,000.00. Following the sale, the executive vice president now owns 40,370 shares of the company's stock, valued at approximately $2,078,247.60. The trade was a 65.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Pamela J. Cramer sold 20,760 shares of the business's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $60.14, for a total value of $1,248,506.40. Following the completion of the sale, the insider now owns 19,209 shares in the company, valued at $1,155,229.26. This represents a 51.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 146,641 shares of company stock valued at $8,112,177. 5.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RYTM has been the topic of several research reports. Bank of America upgraded shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target on the stock in a research note on Monday, April 7th. Morgan Stanley reaffirmed an "overweight" rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Jefferies Financial Group began coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a "buy" rating and a $80.00 price target for the company. Canaccord Genuity Group upped their target price on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $66.00 price target on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of "Buy" and an average target price of $74.92.

Rhythm Pharmaceuticals Stock Up 1.5 %

Rhythm Pharmaceuticals stock traded up $0.87 during mid-day trading on Wednesday, hitting $60.10. 102,432 shares of the stock were exchanged, compared to its average volume of 543,434. The firm's fifty day simple moving average is $54.88 and its two-hundred day simple moving average is $55.83. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of -13.88 and a beta of 2.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its 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 business had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. As a group, analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Rhythm Pharmaceuticals Company 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.