HighVista Strategies LLC Buys 23,064 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

HighVista Strategies LLC grew its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 160.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,426 shares of the company's stock after buying an additional 23,064 shares during the period. HighVista Strategies LLC owned 0.06% of Rhythm Pharmaceuticals worth $1,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in RYTM. CWM LLC increased its holdings in shares of Rhythm Pharmaceuticals by 62.6% in the 2nd quarter. CWM LLC now owns 657 shares of the company's stock valued at $27,000 after acquiring an additional 253 shares during the period. ORG Partners LLC purchased a new position in Rhythm Pharmaceuticals in the 2nd quarter valued at approximately $51,000. ORG Wealth Partners LLC purchased a new stake in Rhythm Pharmaceuticals during the third quarter worth $63,000. Quest Partners LLC grew its holdings in Rhythm Pharmaceuticals by 513.3% in the second quarter. Quest Partners LLC now owns 1,662 shares of the company's stock valued at $68,000 after purchasing an additional 1,391 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company's stock worth $114,000 after buying an additional 391 shares in the last quarter.

Insider Transactions at Rhythm Pharmaceuticals

In other news, EVP Jennifer Kayden Lee sold 66,861 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the transaction, the executive vice president now owns 972 shares in the company, valued at $64,472.76. This represents a 98.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Pamela J. Cramer sold 4,099 shares of Rhythm Pharmaceuticals stock in a transaction on Monday, September 9th. The shares were sold at an average price of $50.03, for a total transaction of $205,072.97. Following the completion of the sale, the insider now directly owns 13,500 shares of the company's stock, valued at approximately $675,405. The trade was a 23.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,181 shares of company stock valued at $8,359,750 in the last three months. Corporate insiders own 5.60% of the company's stock.

Rhythm Pharmaceuticals Stock Performance

RYTM traded down $0.76 on Tuesday, reaching $60.08. 575,596 shares of the company traded hands, compared to its average volume of 546,977. The stock's 50 day moving average price is $54.44 and its 200-day moving average price is $48.21. Rhythm Pharmaceuticals, Inc. has a 52-week low of $32.64 and a 52-week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, topping analysts' consensus estimates of ($0.80) by $0.07. The business had revenue of $33.20 million for the quarter, compared to the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Rhythm Pharmaceuticals's revenue for the quarter was up 47.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.76) earnings per share. Research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.36 EPS for the current fiscal year.

Analysts Set New Price Targets

RYTM has been the topic of several research reports. Needham & Company LLC increased their price target on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. TD Cowen upped their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Canaccord Genuity Group reiterated a "buy" rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. JMP Securities assumed coverage on Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an "outperform" rating and a $64.00 target price for the company. Finally, Bank of America raised their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $62.30.

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.