Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stake Trimmed by Legal & General Group Plc

Legal & General Group Plc decreased its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,803 shares of the company's stock after selling 4,244 shares during the quarter. Legal & General Group Plc owned about 0.08% of Rhythm Pharmaceuticals worth $2,900,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. SRS Capital Advisors Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock valued at $25,000 after purchasing an additional 400 shares during the period. Raleigh Capital Management Inc. acquired a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter valued at approximately $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter valued at approximately $37,000. R Squared Ltd bought a new position in Rhythm Pharmaceuticals during the fourth quarter worth $44,000. Finally, KBC Group NV increased its stake in Rhythm Pharmaceuticals by 78.2% during the fourth quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after purchasing an additional 988 shares during the last quarter.

Insider Activity at Rhythm Pharmaceuticals

In other news, EVP Yann Mazabraud sold 17,750 shares of the company's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $60.99, for a total value of $1,082,572.50. Following the completion of the sale, the executive vice president now owns 22,620 shares in the company, valued at $1,379,593.80. This represents a 43.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph Shulman sold 1,281 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $76,129.83. Following the transaction, the insider now directly owns 2,657 shares of the company's stock, valued at $157,905.51. This represents a 32.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,641 shares of company stock worth $8,112,177 over the last quarter. 5.60% of the stock is currently owned by company insiders.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM traded up $0.79 during trading hours on Friday, reaching $63.76. 451,624 shares of the company's stock traded hands, compared to its average volume of 551,759. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58. The business's fifty day simple moving average is $55.19 and its two-hundred day simple moving average is $56.08. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of -14.73 and a beta of 2.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate 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, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RYTM shares. Morgan Stanley reaffirmed an "overweight" rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Bank of America raised Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price for the company in a report on Monday, April 7th. Stifel Nicolaus started coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price target on the stock. Canaccord Genuity Group boosted their price objective on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group assumed coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a "buy" rating and a $80.00 target price on the stock. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of "Buy" and an average 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.