EAM Global Investors LLC Buys Shares of 56,936 Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

EAM Global Investors LLC purchased a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 56,936 shares of the company's stock, valued at approximately $3,187,000. EAM Global Investors LLC owned approximately 0.09% of Rhythm Pharmaceuticals at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RYTM. Geode Capital Management LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company's stock worth $65,824,000 after acquiring an additional 3,499 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Rhythm Pharmaceuticals by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company's stock worth $24,645,000 after purchasing an additional 6,384 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in Rhythm Pharmaceuticals by 14.0% during the fourth 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. Invesco Ltd. boosted its holdings in shares of Rhythm Pharmaceuticals by 14.5% in the 4th quarter. Invesco Ltd. now owns 302,846 shares of the company's stock valued at $16,953,000 after purchasing an additional 38,429 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Rhythm Pharmaceuticals by 3.4% in the 4th quarter. Franklin Resources Inc. now owns 268,205 shares of the company's stock valued at $15,014,000 after purchasing an additional 8,789 shares during the last quarter.

Rhythm Pharmaceuticals Stock Up 0.7 %

NASDAQ:RYTM traded up $0.40 during trading hours on Friday, reaching $61.74. The company had a trading volume of 628,803 shares, compared to its average volume of 542,891. The business's 50-day simple moving average is $54.70 and its two-hundred day simple moving average is $55.58. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of -14.26 and a beta of 2.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (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 firm had revenue of $41.83 million during the quarter, compared to the consensus estimate of $38.48 million. As a group, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RYTM. Morgan Stanley restated an "overweight" rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Jefferies Financial Group assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a "buy" rating and a $80.00 price target on the stock. Bank of America raised shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target on the stock in a report on Monday, April 7th. JMP Securities reissued a "market outperform" rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Finally, Canaccord Genuity Group boosted their price target on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $74.92.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, CAO Christopher Paul German sold 635 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $36,334.70. Following the completion of the sale, the chief accounting officer now owns 2,070 shares in the company, valued at $118,445.40. This represents a 23.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Yann Mazabraud sold 17,750 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $60.99, for a total value of $1,082,572.50. Following the sale, the executive vice president now owns 22,620 shares in the company, valued at $1,379,593.80. This trade represents a 43.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,641 shares of company stock worth $8,112,177. 5.60% of the stock is owned by corporate insiders.

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.