19,607 Shares in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Bought by Bryce Point Capital LLC

Bryce Point Capital LLC acquired a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 19,607 shares of the company's stock, valued at approximately $1,098,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Rhythm Pharmaceuticals during the fourth quarter valued at $11,512,000. JPMorgan Chase & Co. boosted its stake in Rhythm Pharmaceuticals by 224.3% during the 4th quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company's stock valued at $14,811,000 after purchasing an additional 182,993 shares during the period. Barclays PLC boosted its stake in Rhythm Pharmaceuticals by 79.6% during the 3rd quarter. Barclays PLC now owns 106,397 shares of the company's stock valued at $5,574,000 after purchasing an additional 47,166 shares during the period. Pictet Asset Management Holding SA grew its position in Rhythm Pharmaceuticals by 14.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 375,349 shares of the company's stock worth $21,012,000 after purchasing an additional 46,010 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. increased its stake in shares of Rhythm Pharmaceuticals by 1.9% in the third quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company's stock valued at $126,624,000 after purchasing an additional 45,648 shares during the period.

Insider Activity

In other news, 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 value of $3,861,000.00. Following the transaction, the executive vice president now owns 40,370 shares in the company, valued at $2,078,247.60. This represents a 65.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Shulman sold 1,281 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $76,129.83. Following the sale, the insider now owns 2,657 shares of the company's stock, valued at approximately $157,905.51. This represents a 32.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,131 shares of company stock worth $5,781,098. 5.60% of the stock is owned by corporate insiders.

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Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM traded up $5.57 on Tuesday, hitting $60.53. 770,922 shares of the company were exchanged, compared to its average volume of 526,633. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58. The firm has a market capitalization of $3.83 billion, a P/E ratio of -14.04 and a beta of 2.32. The company's 50 day moving average price is $54.55 and its 200-day moving average price is $55.09.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings results 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 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, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RYTM. Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They issued a "buy" rating and a $80.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 price objective on shares of Rhythm Pharmaceuticals in a report on Tuesday. Morgan Stanley reissued an "overweight" rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Finally, Stifel Nicolaus assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price target for the company. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rhythm Pharmaceuticals has an average rating of "Buy" and a consensus target price 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.