Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP raised its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 70.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 692,803 shares of the company's stock after purchasing an additional 286,188 shares during the quarter. Marshall Wace LLP owned 1.13% of Rhythm Pharmaceuticals worth $38,783,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth $11,512,000. JPMorgan Chase & Co. lifted its position in shares of Rhythm Pharmaceuticals by 224.3% during the fourth quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company's stock valued at $14,811,000 after buying an additional 182,993 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter valued at about $8,080,000. Cinctive Capital Management LP purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth approximately $4,633,000. Finally, EAM Investors LLC bought a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $3,531,000.

Insider Activity

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 20,760 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $60.14, for a total transaction of $1,248,506.40. Following the completion of the transaction, the insider now owns 19,209 shares of the company's stock, valued at $1,155,229.26. This represents a 51.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Yann Mazabraud sold 75,000 shares of Rhythm Pharmaceuticals stock in a transaction that occurred 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 directly owns 40,370 shares in the company, valued at $2,078,247.60. This represents a 65.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,641 shares of company stock worth $8,112,177 in the last quarter. Corporate insiders own 5.60% of the company's stock.

Rhythm Pharmaceuticals Trading Up 4.9 %

Shares of Rhythm Pharmaceuticals stock traded up $2.94 during trading hours on Thursday, reaching $62.78. The stock had a trading volume of 637,692 shares, compared to its average volume of 547,030. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58. The firm has a market capitalization of $3.97 billion, a PE ratio of -14.50 and a beta of 2.32. The stock's 50 day moving average is $54.94 and its 200 day moving average is $55.86.

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 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 business had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million. As a group, sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Stifel Nicolaus began coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price target for the company. Jefferies Financial Group began coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a "buy" rating and a $80.00 target price on the stock. Bank of America raised shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target for the company in a report on Monday, April 7th. Canaccord Genuity Group upped their target price 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, Morgan Stanley reaffirmed an "overweight" rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rhythm Pharmaceuticals currently has a consensus 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.