American Century Companies Inc. Invests $1.89 Million in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

American Century Companies Inc. purchased a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 33,766 shares of the company's stock, valued at approximately $1,890,000. American Century Companies Inc. owned approximately 0.05% of Rhythm Pharmaceuticals as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. SRS Capital Advisors Inc. raised its stake in Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock valued at $25,000 after buying an additional 400 shares during the last quarter. Raleigh Capital Management Inc. purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at approximately $28,000. SBI Securities Co. Ltd. acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter worth approximately $37,000. R Squared Ltd purchased a new stake in Rhythm Pharmaceuticals during the 4th quarter worth approximately $44,000. Finally, KBC Group NV increased its stake in Rhythm Pharmaceuticals by 78.2% during the 4th quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after purchasing an additional 988 shares in the last quarter.

Insiders Place Their Bets

In related news, insider Pamela J. Cramer sold 20,760 shares of the company's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $60.14, for a total transaction of $1,248,506.40. Following the completion of the sale, the insider now directly owns 19,209 shares of the company's stock, valued at approximately $1,155,229.26. This represents a 51.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Shulman sold 1,281 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $76,129.83. Following the sale, the insider now owns 2,657 shares in the company, valued at approximately $157,905.51. The trade was a 32.53 % decrease in their ownership of the stock. 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 quarter. Company insiders own 5.60% of the company's stock.

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Rhythm Pharmaceuticals Trading Up 3.0 %

Shares of Rhythm Pharmaceuticals stock traded up $1.72 during trading on Friday, reaching $59.55. The company's stock had a trading volume of 681,857 shares, compared to its average volume of 542,019. The firm has a market cap of $3.76 billion, a PE ratio of -13.75 and a beta of 2.32. The company has a 50-day moving average price of $54.57 and a two-hundred day moving average price of $55.37. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They set a "buy" rating and a $78.00 target price for the company. Morgan Stanley reissued an "overweight" rating and issued a $72.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Wells Fargo & Company raised their target price on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a report on Monday, April 7th. HC Wainwright reissued a "buy" rating and issued a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Finally, Bank of America raised shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price objective on the stock in a research note on Monday, April 7th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rhythm Pharmaceuticals has a consensus rating of "Buy" and a consensus price target of $74.92.

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.