Candriam S.C.A. Makes New Investment in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Candriam S.C.A. purchased a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 271,398 shares of the company's stock, valued at approximately $11,143,000. Candriam S.C.A. owned about 0.45% of Rhythm Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Rhythm Pharmaceuticals by 2.4% in the first quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company's stock valued at $143,169,000 after buying an additional 77,208 shares during the last quarter. Perceptive Advisors LLC raised its holdings in shares of Rhythm Pharmaceuticals by 465.6% during the fourth quarter. Perceptive Advisors LLC now owns 2,154,110 shares of the company's stock valued at $99,024,000 after buying an additional 1,773,282 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Rhythm Pharmaceuticals by 381.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 730,643 shares of the company's stock worth $31,659,000 after buying an additional 578,800 shares during the period. Canada Pension Plan Investment Board grew its holdings in Rhythm Pharmaceuticals by 116.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 577,000 shares of the company's stock worth $25,001,000 after buying an additional 310,000 shares in the last quarter. Finally, National Bank of Canada FI increased its position in Rhythm Pharmaceuticals by 10.0% in the 2nd quarter. National Bank of Canada FI now owns 404,242 shares of the company's stock valued at $17,249,000 after acquiring an additional 36,725 shares during the period.

Insider Buying and Selling

In other news, Director Lynn A. Tetrault sold 4,300 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $50.01, for a total transaction of $215,043.00. Following the completion of the sale, the director now directly owns 3,000 shares of the company's stock, valued at $150,030. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 3,200 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $50.01, for a total transaction of $160,032.00. Following the transaction, the insider now owns 13,500 shares of the company's stock, valued at approximately $675,135. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lynn A. Tetrault sold 4,300 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $50.01, for a total transaction of $215,043.00. Following the completion of the sale, the director now directly owns 3,000 shares of the company's stock, valued at $150,030. The disclosure for this sale can be found here. Insiders have sold 73,682 shares of company stock worth $3,476,642 in the last ninety days. 5.60% of the stock is currently owned by corporate insiders.

Rhythm Pharmaceuticals Stock Up 2.9 %

RYTM traded up $1.41 during trading on Monday, reaching $50.66. The stock had a trading volume of 801,191 shares, compared to its average volume of 556,540. Rhythm Pharmaceuticals, Inc. has a 1-year low of $20.97 and a 1-year high of $53.92. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of -10.94 and a beta of 2.07. The stock has a 50 day moving average of $46.83 and a two-hundred day moving average of $42.70.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The firm had revenue of $29.08 million for the quarter, compared to analyst estimates of $28.79 million. During the same period in the previous year, the company earned ($0.82) earnings per share. Rhythm Pharmaceuticals's revenue was up 51.3% compared to the same quarter last year. On average, research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Needham & Company LLC reiterated a "buy" rating and set a $55.00 price target on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Rhythm Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $55.83.

About Rhythm Pharmaceuticals

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.