Barclays PLC Buys 29,000 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Barclays PLC grew its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 27.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,397 shares of the company's stock after acquiring an additional 29,000 shares during the quarter. Barclays PLC owned about 0.22% of Rhythm Pharmaceuticals worth $7,579,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. lifted its position in Rhythm Pharmaceuticals by 11.5% during the third quarter. Franklin Resources Inc. now owns 259,416 shares of the company's stock valued at $13,033,000 after purchasing an additional 26,739 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Rhythm Pharmaceuticals by 241.9% during the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company's stock valued at $1,707,000 after buying an additional 23,054 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth $28,000. KBC Group NV grew its position in Rhythm Pharmaceuticals by 78.2% in the fourth quarter. KBC Group NV now owns 2,251 shares of the company's stock worth $126,000 after acquiring an additional 988 shares in the last quarter. Finally, R Squared Ltd bought a new position in Rhythm Pharmaceuticals in the fourth quarter valued at $44,000.

Rhythm Pharmaceuticals Stock Up 1.3 %

Shares of RYTM traded up $0.79 during mid-day trading on Friday, hitting $63.76. 451,624 shares of the company's stock traded hands, compared to its average volume of 551,759. The firm has a market capitalization of $4.03 billion, a P/E ratio of -14.73 and a beta of 2.32. The business's 50-day moving average price is $55.19 and its 200-day moving average price is $56.08. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS 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 company had revenue of $41.83 million during the quarter, compared to the consensus estimate of $38.48 million. Sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 635 shares of the firm'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 completion of the transaction, the chief accounting officer now owns 2,070 shares of the company's stock, valued at approximately $118,445.40. This trade represents a 23.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Yann Mazabraud sold 75,000 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the completion of the sale, the executive vice president now directly owns 40,370 shares in the company, valued at $2,078,247.60. This represents a 65.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,641 shares of company stock worth $8,112,177 over the last three months. Company insiders own 5.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RYTM shares. Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They set a "buy" rating and a $78.00 price target for the company. Wells Fargo & Company upped their target price on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. Needham & Company LLC reiterated a "buy" rating and set a $66.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Canaccord Genuity Group boosted their price objective on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating 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 target price on the stock in a report on Monday, April 7th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, the company 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.