Hood River Capital Management LLC Raises Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Hood River Capital Management LLC grew its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 643,691 shares of the company's stock after buying an additional 29,093 shares during the quarter. Hood River Capital Management LLC owned 1.05% of Rhythm Pharmaceuticals worth $36,034,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace LLP increased its holdings in shares of Rhythm Pharmaceuticals by 70.4% in the 4th quarter. Marshall Wace LLP now owns 692,803 shares of the company's stock worth $38,783,000 after purchasing an additional 286,188 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Rhythm Pharmaceuticals by 24.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 685,152 shares of the company's stock valued at $38,355,000 after buying an additional 134,622 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Rhythm Pharmaceuticals by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company's stock worth $24,645,000 after buying an additional 6,384 shares in the last quarter. Pictet Asset Management Holding SA raised its position in Rhythm Pharmaceuticals by 14.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 375,349 shares of the company's stock worth $21,012,000 after buying an additional 46,010 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Rhythm Pharmaceuticals by 14.5% during the 4th quarter. Invesco Ltd. now owns 302,846 shares of the company's stock valued at $16,953,000 after acquiring an additional 38,429 shares during the period.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ RYTM opened at $59.23 on Wednesday. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The company has a market cap of $3.74 billion, a PE ratio of -13.68 and a beta of 2.32. The business has a 50-day simple moving average of $54.84 and a two-hundred day simple moving average of $55.81.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly 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 company had revenue of $41.83 million for the quarter, compared to analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. On average, sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on RYTM. Wells Fargo & Company boosted their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a report on Monday, April 7th. HC Wainwright reissued a "buy" rating and set a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Morgan Stanley reissued an "overweight" rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Bank of America upgraded 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. Finally, Needham & Company LLC reissued a "buy" rating and set a $66.00 target price on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $74.92.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, EVP Yann Mazabraud sold 75,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $51.48, for a total value of $3,861,000.00. Following the transaction, the executive vice president now owns 40,370 shares in the company, valued at approximately $2,078,247.60. This represents a 65.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70. Following the sale, the chief accounting officer now owns 2,070 shares of the company's stock, 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. In the last 90 days, insiders have sold 146,641 shares of company stock worth $8,112,177. 5.60% of the stock is currently owned by 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.

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