Loomis Sayles & Co. L P Sells 18,143 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Loomis Sayles & Co. L P lowered its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 2.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 618,485 shares of the company's stock after selling 18,143 shares during the quarter. Loomis Sayles & Co. L P owned about 1.01% of Rhythm Pharmaceuticals worth $34,623,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in RYTM. JPMorgan Chase & Co. boosted its position in Rhythm Pharmaceuticals by 224.3% during the 4th quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company's stock worth $14,811,000 after purchasing an additional 182,993 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Rhythm Pharmaceuticals in the 4th quarter worth $521,000. Sei Investments Co. boosted its position in Rhythm Pharmaceuticals by 15.5% in the 4th quarter. Sei Investments Co. now owns 33,522 shares of the company's stock valued at $1,877,000 after buying an additional 4,501 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter valued at about $1,890,000. Finally, Teacher Retirement System of Texas lifted its stake in shares of Rhythm Pharmaceuticals by 18.5% in the fourth 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.

Rhythm Pharmaceuticals Trading Down 0.8 %

RYTM stock traded down $0.42 during trading hours on Tuesday, hitting $52.55. 110,195 shares of the stock traded hands, compared to its average volume of 508,765. The stock has a 50-day simple moving average of $55.22 and a 200 day simple moving average of $55.14. The company has a market cap of $3.32 billion, a P/E ratio of -12.05 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58.

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Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The business had revenue of $41.83 million for the quarter, compared to the consensus estimate of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insider Activity at Rhythm Pharmaceuticals

In other news, EVP Yann Mazabraud sold 75,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $51.48, for a total value 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 $2,078,247.60. This trade represents a 65.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO David P. Meeker sold 9,896 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $566,249.12. Following the completion of the sale, the chief executive officer now directly owns 201,281 shares of the company's stock, valued at $11,517,298.82. This trade represents a 4.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,131 shares of company stock worth $5,781,098 in the last quarter. 5.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RYTM shares. Canaccord Genuity Group upped their price target on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and set a $75.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, March 24th. Jefferies Financial Group started coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a "buy" rating and a $80.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price target on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Rhythm Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $69.46.

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.