EAM Investors LLC Makes New Investment in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

EAM Investors LLC purchased a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 63,078 shares of the company's stock, valued at approximately $3,531,000. EAM Investors LLC owned approximately 0.10% of Rhythm Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank purchased a new position in Rhythm Pharmaceuticals in the fourth quarter worth about $11,512,000. JPMorgan Chase & Co. boosted its holdings in Rhythm Pharmaceuticals by 224.3% in the fourth quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company's stock worth $14,811,000 after purchasing an additional 182,993 shares during the last quarter. Walleye Capital LLC bought a new stake in Rhythm Pharmaceuticals in the 4th quarter worth approximately $8,080,000. Cinctive Capital Management LP purchased a new stake in Rhythm Pharmaceuticals during the 4th quarter valued at $4,633,000. Finally, Barclays PLC lifted its holdings in Rhythm Pharmaceuticals by 79.6% in the third quarter. Barclays PLC now owns 106,397 shares of the company's stock valued at $5,574,000 after acquiring an additional 47,166 shares during the period.

Rhythm Pharmaceuticals Trading Up 0.7 %

NASDAQ:RYTM traded up $0.40 during midday trading on Friday, hitting $61.74. 628,803 shares of the company traded hands, compared to its average volume of 542,891. The firm's fifty day moving average is $54.70 and its 200-day moving average is $55.58. The firm has a market capitalization of $3.90 billion, a P/E ratio of -14.26 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-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 the consensus estimate of ($0.69) by ($0.03). The firm had revenue of $41.83 million during the quarter, compared to the consensus estimate 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, research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Bank of America raised Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price objective on the stock in a research report on Monday, April 7th. HC Wainwright reiterated a "buy" rating and issued a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Stifel Nicolaus assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They set a "buy" rating and a $78.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and set a $66.00 price target on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Finally, Wells Fargo & Company upped their price objective on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $74.92.

Insider Transactions at Rhythm Pharmaceuticals

In related news, CAO Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction 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 trade represents a 23.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph Shulman sold 794 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $57.51, for a total transaction of $45,662.94. Following the completion of the transaction, the insider now owns 6 shares in the company, valued at $345.06. This represents a 99.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,641 shares of company stock worth $8,112,177. 5.60% of the stock is currently owned by company insiders.

Rhythm Pharmaceuticals 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.