Artia Global Partners LP Makes New $2.80 Million Investment in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Artia Global Partners LP acquired a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 50,000 shares of the company's stock, valued at approximately $2,799,000. Rhythm Pharmaceuticals comprises about 1.0% of Artia Global Partners LP's holdings, making the stock its 18th largest holding. Artia Global Partners LP owned approximately 0.08% of Rhythm Pharmaceuticals at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RYTM. Principal Financial Group Inc. lifted its position in Rhythm Pharmaceuticals by 241.9% during the third quarter. Principal Financial Group Inc. now owns 32,586 shares of the company's stock valued at $1,707,000 after purchasing an additional 23,054 shares during the period. Barclays PLC grew its holdings in shares of Rhythm Pharmaceuticals by 79.6% in the third quarter. Barclays PLC now owns 106,397 shares of the company's stock worth $5,574,000 after acquiring an additional 47,166 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Rhythm Pharmaceuticals during the fourth quarter valued at $521,000. KBC Group NV lifted its holdings in Rhythm Pharmaceuticals by 78.2% in the fourth quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after acquiring an additional 988 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in Rhythm Pharmaceuticals in the fourth quarter worth about $37,000.

Rhythm Pharmaceuticals Price Performance

RYTM stock opened at $63.76 on Friday. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The business has a 50 day simple moving average of $55.19 and a two-hundred day simple moving average of $56.08. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of -14.73 and a beta of 2.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued 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 company had revenue of $41.83 million for the quarter, compared to the consensus estimate of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. Sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Insider Activity

In related news, CAO Christopher Paul German sold 635 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $36,334.70. Following the sale, the chief accounting officer now owns 2,070 shares in the company, valued at approximately $118,445.40. The trade was a 23.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Yann Mazabraud sold 75,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the transaction, the executive vice president now owns 40,370 shares of the company's stock, valued at $2,078,247.60. This trade represents a 65.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,641 shares of company stock worth $8,112,177 over the last 90 days. Corporate insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RYTM shares. Canaccord Genuity Group increased their price objective on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. 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 report on Monday, April 7th. Wells Fargo & Company boosted their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a research report on Monday, April 7th. Needham & Company LLC reiterated a "buy" rating and set a $66.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Finally, 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 for the company. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $74.92.

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.

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