Connor Clark & Lunn Investment Management Ltd. Invests $341,000 in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,089 shares of the company's stock, valued at approximately $341,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Loomis Sayles & Co. L P acquired a new position in Rhythm Pharmaceuticals in the 3rd quarter valued at $33,353,000. Alkeon Capital Management LLC increased its stake 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 valued at $61,176,000 after purchasing an additional 167,700 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Rhythm Pharmaceuticals by 14.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company's stock worth $58,208,000 after buying an additional 143,800 shares during the period. Barclays PLC boosted its stake in Rhythm Pharmaceuticals by 79.6% in the 3rd quarter. Barclays PLC now owns 106,397 shares of the company's stock worth $5,574,000 after buying an additional 47,166 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. grew its holdings in Rhythm Pharmaceuticals by 1.9% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company's stock valued at $126,624,000 after buying an additional 45,648 shares during the period.

Insider Buying and Selling

In other news, EVP Yann Mazabraud sold 75,000 shares of Rhythm Pharmaceuticals 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 sale, the executive vice president now directly owns 40,370 shares of the company's stock, valued at approximately $2,078,247.60. The trade was a 65.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph Shulman sold 1,281 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $76,129.83. Following the completion of the transaction, the insider now owns 2,657 shares in the company, valued at approximately $157,905.51. This trade represents a 32.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,131 shares of company stock valued at $5,781,098 in the last quarter. Company insiders own 5.60% of the company's stock.

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Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM traded up $0.50 during mid-day trading on Tuesday, hitting $54.22. 129,510 shares of the company traded hands, compared to its average volume of 485,909. The firm's 50 day simple moving average is $55.28 and its 200 day simple moving average is $54.99. The firm has a market cap of $3.43 billion, a P/E ratio of -12.52 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $38.48 million. Equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RYTM. Jefferies Financial Group began coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a "buy" rating and a $80.00 price objective on the stock. Oppenheimer assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an "outperform" rating and a $76.00 price target on the stock. The Goldman Sachs Group boosted their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Needham & Company LLC upped their price objective on Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Finally, Canaccord Genuity Group lifted their target price on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $69.46.

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.