Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Purchased by Barclays PLC

Barclays PLC increased its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 79.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,397 shares of the company's stock after acquiring an additional 47,166 shares during the period. Barclays PLC owned approximately 0.17% of Rhythm Pharmaceuticals worth $5,574,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Perceptive Advisors LLC raised its stake in Rhythm Pharmaceuticals by 5.4% during the second quarter. Perceptive Advisors LLC now owns 3,446,579 shares of the company's stock valued at $141,517,000 after buying an additional 178,000 shares during the last quarter. Frazier Life Sciences Management L.P. raised its holdings in Rhythm Pharmaceuticals by 8.3% in the 2nd 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 last quarter. Driehaus Capital Management LLC lifted its holdings in Rhythm Pharmaceuticals by 38.2% in the second quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company's stock valued at $48,548,000 after acquiring an additional 326,865 shares during the period. Alkeon Capital Management LLC raised its position in Rhythm Pharmaceuticals by 16.8% in the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company's stock worth $61,176,000 after acquiring an additional 167,700 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Rhythm Pharmaceuticals by 14.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company's stock worth $58,208,000 after acquiring an additional 143,800 shares during the last quarter.

Analyst Ratings Changes

Several research firms have issued reports on RYTM. Needham & Company LLC boosted their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. HC Wainwright reaffirmed a "buy" rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a report on Wednesday, December 4th. Guggenheim initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 21st. They set a "buy" rating and a $70.00 target price on the stock. TD Cowen raised their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $65.80.

Insider Activity at Rhythm Pharmaceuticals

In other news, EVP Jennifer Kayden Lee sold 66,861 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $66.33, for a total value of $4,434,890.13. Following the completion of the sale, the executive vice president now directly owns 972 shares in the company, valued at $64,472.76. This represents a 98.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Shulman sold 13,281 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $66.44, for a total transaction of $882,389.64. The disclosure for this sale can be found here. Insiders sold a total of 84,830 shares of company stock worth $5,622,000 in the last three months. Company insiders own 5.60% of the company's stock.

Rhythm Pharmaceuticals Stock Up 1.2 %

RYTM stock traded up $0.64 during trading on Friday, hitting $56.12. 1,520,023 shares of the company's stock traded hands, compared to its average volume of 548,620. The business has a fifty day simple moving average of $56.39 and a two-hundred day simple moving average of $49.98. The firm has a market capitalization of $3.45 billion, a P/E ratio of -12.96 and a beta of 2.14. 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 results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business had revenue of $33.20 million for the quarter, compared to the consensus estimate of $32.52 million. During the same period in the prior year, the firm posted ($0.76) earnings per share. The business's quarterly revenue was up 47.6% on a year-over-year basis. On average, equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.34 EPS for the current fiscal year.

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.