Frazier Life Sciences Management L.P. Acquires 45,648 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Frazier Life Sciences Management L.P. increased its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,416,952 shares of the company's stock after buying an additional 45,648 shares during the period. Rhythm Pharmaceuticals accounts for 5.1% of Frazier Life Sciences Management L.P.'s holdings, making the stock its 6th largest position. Frazier Life Sciences Management L.P. owned 3.93% of Rhythm Pharmaceuticals worth $126,624,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Loomis Sayles & Co. L P bought a new position in Rhythm Pharmaceuticals in the third quarter valued at approximately $33,353,000. Driehaus Capital Management LLC increased its stake in Rhythm Pharmaceuticals by 38.2% in the second quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company's stock valued at $48,548,000 after acquiring an additional 326,865 shares during the last quarter. Candriam S.C.A. bought a new position in Rhythm Pharmaceuticals in the second quarter valued at approximately $11,143,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Rhythm Pharmaceuticals by 32.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 967,243 shares of the company's stock valued at $39,715,000 after acquiring an additional 236,600 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Rhythm Pharmaceuticals by 157.7% in the second quarter. Nisa Investment Advisors LLC now owns 374,347 shares of the company's stock valued at $15,371,000 after acquiring an additional 229,056 shares during the last quarter.

Insider Activity at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 13,281 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $66.44, for a total transaction of $882,389.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jennifer L. Good sold 31,751 shares of the company's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the transaction, the director now owns 3,000 shares in the company, valued at $157,200. This represents a 91.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,581 shares of company stock worth $7,285,752 over the last quarter. Company insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Bank of America lifted their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. Guggenheim started coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 21st. They set a "buy" rating and a $70.00 target price on the stock. Needham & Company LLC boosted their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Finally, TD Cowen boosted their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Rhythm Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $63.70.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock traded up $0.33 during trading on Tuesday, hitting $57.74. The company's stock had a trading volume of 522,155 shares, compared to its average volume of 545,873. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -13.33 and a beta of 2.14. The stock has a 50-day moving average price of $55.28 and a two-hundred day moving average price of $49.09.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.07. The business had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Rhythm Pharmaceuticals's revenue for the quarter was up 47.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.76) earnings per share. On average, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.36 EPS for the current fiscal year.

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.