Diadema Partners LP Acquires New Shares in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Diadema Partners LP acquired a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 75,000 shares of the company's stock, valued at approximately $4,198,000. Rhythm Pharmaceuticals comprises approximately 1.8% of Diadema Partners LP's holdings, making the stock its 9th largest position. Diadema Partners LP owned 0.12% of Rhythm Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RYTM. SRS Capital Advisors Inc. boosted its holdings in shares of Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock worth $25,000 after buying an additional 400 shares during the period. Raleigh Capital Management Inc. bought a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $28,000. SBI Securities Co. Ltd. bought a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at $37,000. R Squared Ltd acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth approximately $44,000. Finally, Swiss National Bank raised its stake in shares of Rhythm Pharmaceuticals by 1.0% in the fourth quarter. Swiss National Bank now owns 90,200 shares of the company's stock worth $5,049,000 after acquiring an additional 900 shares during the last quarter.

Rhythm Pharmaceuticals Stock Up 5.2 %

RYTM stock opened at $62.97 on Friday. The stock's 50 day moving average is $54.94 and its 200-day moving average is $55.86. The firm has a market capitalization of $3.98 billion, a PE ratio of -14.54 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its earnings results 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). The firm had revenue of $41.83 million during the quarter, compared to analysts' expectations of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. On average, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on RYTM shares. Needham & Company LLC reaffirmed a "buy" rating and set a $66.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 target price (up from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Morgan Stanley reaffirmed an "overweight" rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Wells Fargo & Company boosted their price target on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. Finally, Canaccord Genuity Group upped their price objective on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $74.92.

Insider Activity at Rhythm Pharmaceuticals

In related news, 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 approximately $2,078,247.60. This trade represents a 65.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals 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 directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,641 shares of company stock valued at $8,112,177. Corporate insiders own 5.60% of the company's stock.

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.