8,594 Shares in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Acquired by Creative Planning

Creative Planning bought a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,594 shares of the company's stock, valued at approximately $450,000.

Several other hedge funds also recently bought and sold shares of RYTM. SG Americas Securities LLC raised its holdings in shares of Rhythm Pharmaceuticals by 348.9% during the second quarter. SG Americas Securities LLC now owns 33,727 shares of the company's stock worth $1,385,000 after acquiring an additional 26,214 shares during the period. Castleark Management LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the first quarter worth $2,769,000. Bayesian Capital Management LP acquired a new stake in shares of Rhythm Pharmaceuticals during the first quarter worth $665,000. Frazier Life Sciences Management L.P. raised its holdings in shares of Rhythm Pharmaceuticals by 8.3% during the second quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company's stock worth $97,366,000 after acquiring an additional 181,125 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 2.4% during the first quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company's stock worth $143,169,000 after acquiring an additional 77,208 shares during the period.

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Pamela J. Cramer sold 49,006 shares of the company'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 transaction, the insider now owns 13,500 shares in the company, valued at approximately $609,525. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jennifer L. Good sold 31,751 shares of the company's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total value of $1,663,752.40. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $157,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pamela J. Cramer sold 49,006 shares of the business's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $45.15, for a total transaction of $2,212,620.90. Following the completion of the sale, the insider now directly owns 13,500 shares of the company's stock, valued at $609,525. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,857 shares of company stock worth $5,325,446. Insiders own 5.60% of the company's stock.

Rhythm Pharmaceuticals Trading Up 2.0 %

Shares of RYTM traded up $1.25 during midday trading on Thursday, reaching $63.90. The stock had a trading volume of 1,074,764 shares, compared to its average volume of 541,350. The firm has a 50 day simple moving average of $50.25 and a 200-day simple moving average of $45.46. Rhythm Pharmaceuticals, Inc. has a one year low of $26.55 and a one year high of $65.14. The firm has a market cap of $3.91 billion, a PE ratio of -14.37 and a beta of 2.09.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating analysts' consensus estimates of ($0.80) by $0.07. The company had revenue of $33.20 million during the quarter, compared to the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The company's quarterly revenue was up 47.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.76) EPS. As a group, research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Needham & Company LLC raised their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday. HC Wainwright raised their target price on shares of Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the company a "buy" rating in a research report on Thursday. Canaccord Genuity Group raised their target price on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday. Guggenheim assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Monday, October 21st. They issued a "buy" rating and a $70.00 target price for the company. Finally, JMP Securities assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They issued an "outperform" rating and a $64.00 target price for the company. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $62.30.

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.