JPMorgan Chase & Co. Buys 182,993 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

JPMorgan Chase & Co. lifted its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 224.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 264,585 shares of the company's stock after acquiring an additional 182,993 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.43% of Rhythm Pharmaceuticals worth $14,811,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RYTM. KLP Kapitalforvaltning AS bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter valued at about $521,000. Sei Investments Co. grew its holdings in shares of Rhythm Pharmaceuticals by 15.5% during the 4th quarter. Sei Investments Co. now owns 33,522 shares of the company's stock worth $1,877,000 after acquiring an additional 4,501 shares during the period. American Century Companies Inc. bought a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth approximately $1,890,000. Teacher Retirement System of Texas raised its position in shares of Rhythm Pharmaceuticals by 18.5% in the 4th quarter. Teacher Retirement System of Texas now owns 13,586 shares of the company's stock worth $761,000 after acquiring an additional 2,117 shares in the last quarter. Finally, Xponance Inc. purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at approximately $233,000.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 75,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the completion of the sale, the executive vice president now owns 40,370 shares of the company's stock, valued at approximately $2,078,247.60. The trade was a 65.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Pamela J. Cramer sold 20,760 shares of the firm's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $60.14, for a total value of $1,248,506.40. Following the completion of the transaction, the insider now directly owns 19,209 shares in the company, valued at $1,155,229.26. This trade represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,641 shares of company stock worth $8,112,177 in the last three months. 5.60% of the stock is currently owned by company insiders.

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Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock traded up $1.95 during midday trading on Tuesday, reaching $62.09. 813,574 shares of the company traded hands, compared to its average volume of 542,965. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58. The business has a 50 day moving average of $54.55 and a two-hundred day moving average of $55.43. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of -14.34 and a beta of 2.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released 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). 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 analysts' expectations of $38.48 million. As a group, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on RYTM shares. Wells Fargo & Company raised their price objective on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a research report on Monday, April 7th. 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 price objective on the stock. Bank of America raised shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price for the company in a research note on Monday, April 7th. 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 research report on Tuesday, April 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $66.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of "Buy" and a consensus price target of $74.92.

Rhythm Pharmaceuticals Company 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.