ADAR1 Capital Management LLC Takes Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

ADAR1 Capital Management LLC acquired a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 30,941 shares of the company's stock, valued at approximately $1,732,000. ADAR1 Capital Management LLC owned about 0.05% of Rhythm Pharmaceuticals at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of RYTM. Wells Fargo & Company MN boosted its stake in shares of Rhythm Pharmaceuticals by 26.6% in the fourth quarter. Wells Fargo & Company MN now owns 37,324 shares of the company's stock worth $2,089,000 after acquiring an additional 7,850 shares during the last quarter. Cinctive Capital Management LP acquired a new stake in Rhythm Pharmaceuticals during the 4th quarter worth $4,633,000. Bryce Point Capital LLC purchased a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth $1,098,000. Trexquant Investment LP acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at about $437,000. Finally, Franklin Resources Inc. raised its position in shares of 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 buying an additional 8,789 shares during the last quarter.

Rhythm Pharmaceuticals Trading Up 3.0 %

Rhythm Pharmaceuticals stock traded up $1.72 during trading on Friday, hitting $59.55. The company had a trading volume of 681,857 shares, compared to its average volume of 543,240. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of -13.75 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The company's 50 day simple moving average is $54.58 and its 200-day simple moving average is $55.29.

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

Insider Transactions at Rhythm Pharmaceuticals

In other news, CAO Christopher Paul German sold 635 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the sale, the chief accounting officer now owns 2,070 shares of the company's stock, valued at approximately $118,445.40. This represents a 23.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David P. Meeker sold 4,278 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $254,241.54. Following the completion of the transaction, the chief executive officer now owns 189,927 shares of the company's stock, valued at approximately $11,287,361.61. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,641 shares of company stock valued at $8,112,177. 5.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RYTM has been the subject of a number of recent research reports. HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday. JMP Securities reaffirmed a "market outperform" rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Canaccord Genuity Group upped their target price on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday. Stifel Nicolaus began coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They set a "buy" rating and a $78.00 price target on the stock. Finally, Needham & Company LLC reissued a "buy" rating and issued a $66.00 price objective on shares of Rhythm Pharmaceuticals in a report on Tuesday. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $74.92.

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.