12,386 Shares in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Acquired by Intech Investment Management LLC

Intech Investment Management LLC purchased a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,386 shares of the company's stock, valued at approximately $649,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RYTM. SG Americas Securities LLC increased its stake in Rhythm Pharmaceuticals by 348.9% in the 2nd quarter. SG Americas Securities LLC now owns 33,727 shares of the company's stock worth $1,385,000 after acquiring an additional 26,214 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Rhythm Pharmaceuticals by 241.9% during the third quarter. Principal Financial Group Inc. now owns 32,586 shares of the company's stock worth $1,707,000 after purchasing an additional 23,054 shares in the last quarter. Frazier Life Sciences Management L.P. increased its position in shares of Rhythm Pharmaceuticals by 8.3% in the second quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company's stock worth $97,366,000 after purchasing an additional 181,125 shares during the last quarter. Creative Planning purchased a new stake in Rhythm Pharmaceuticals in the third quarter valued at approximately $450,000. Finally, Vanguard Group Inc. lifted its position in Rhythm Pharmaceuticals by 2.4% during the first quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company's stock valued at $143,169,000 after purchasing an additional 77,208 shares during the last quarter.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock traded down $0.21 during trading hours on Friday, reaching $62.04. The company had a trading volume of 254,211 shares, compared to its average volume of 743,377. Rhythm Pharmaceuticals, Inc. has a 12-month low of $32.22 and a 12-month high of $68.58. The company has a 50-day moving average price of $54.24 and a 200 day moving average price of $47.99.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.07. The company 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%. The firm's revenue for the quarter was up 47.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.76) earnings per share. Analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.36 EPS for the current year.

Insider Activity

In other news, Director Lynn A. Tetrault sold 17,501 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $49.65, for a total transaction of $868,924.65. Following the transaction, the director now directly owns 3,000 shares of the company's stock, valued at approximately $148,950. The trade was a 85.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pamela J. Cramer sold 4,099 shares of the firm's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $50.03, for a total value 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 $675,405. The trade was a 23.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 138,181 shares of company stock valued at $8,359,750. Insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RYTM shares. TD Cowen increased their price target on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Needham & Company LLC upped their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Guggenheim initiated coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a "buy" rating and a $70.00 price target on the stock. Bank of America lifted their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. Finally, JMP Securities began coverage on Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They set an "outperform" rating and a $64.00 price objective on the stock. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus 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.