Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Natixis

Natixis lessened its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 91.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 997 shares of the company's stock after selling 10,190 shares during the quarter. Natixis' holdings in Rhythm Pharmaceuticals were worth $56,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Marshall Wace LLP increased its stake in Rhythm Pharmaceuticals by 70.4% during the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company's stock worth $38,783,000 after purchasing an additional 286,188 shares during the period. Norges Bank purchased a new stake in Rhythm Pharmaceuticals during the 4th quarter worth approximately $11,512,000. JPMorgan Chase & Co. lifted its holdings 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 buying an additional 182,993 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth $8,080,000. Finally, Cinctive Capital Management LP purchased a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth $4,633,000.

Rhythm Pharmaceuticals Stock Up 1.3 %

NASDAQ RYTM traded up $0.81 during trading hours on Tuesday, hitting $65.22. 364,019 shares of the stock were exchanged, compared to its average volume of 550,672. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The stock has a 50-day moving average of $55.32 and a 200 day moving average of $56.30. The company has a market cap of $4.12 billion, a price-to-earnings ratio of -15.06 and a beta of 2.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly 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). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The business had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million. On average, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analysts Set New Price Targets

RYTM has been the subject of several analyst reports. Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a "buy" rating and a $80.00 target price for the company. Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They set a "buy" rating and a $78.00 price objective for the company. Bank of America raised shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price on the stock in a report on Monday, April 7th. Morgan Stanley reiterated an "overweight" rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $74.92.

Insiders Place Their Bets

In other news, insider Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $76,129.83. Following the completion of the sale, the insider now directly owns 2,657 shares in the company, valued at approximately $157,905.51. This trade represents a 32.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Hunter C. Smith sold 1,678 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $99,723.54. Following the completion of the sale, the chief financial officer now owns 101,186 shares in the company, valued at approximately $6,013,483.98. This represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 146,641 shares of company stock worth $8,112,177. Corporate insiders own 5.60% of the company's stock.

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.