Invesco Ltd. Buys 38,429 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Invesco Ltd. increased its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302,846 shares of the company's stock after buying an additional 38,429 shares during the quarter. Invesco Ltd. owned about 0.49% of Rhythm Pharmaceuticals worth $16,953,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RYTM. SRS Capital Advisors Inc. increased its stake in shares of Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock valued at $25,000 after purchasing an additional 400 shares during the period. Raleigh Capital Management Inc. acquired a new position in Rhythm Pharmaceuticals during the 4th quarter worth $28,000. SBI Securities Co. Ltd. bought a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth $37,000. R Squared Ltd bought a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter valued at about $44,000. Finally, Swiss National Bank lifted its holdings in Rhythm Pharmaceuticals by 1.0% in the fourth quarter. Swiss National Bank now owns 90,200 shares of the company's stock worth $5,049,000 after purchasing an additional 900 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have commented on RYTM. Morgan Stanley reissued an "overweight" rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Canaccord Genuity Group boosted their price target on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. Stifel Nicolaus assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price objective on the stock. HC Wainwright restated a "buy" rating and set a $80.00 target price (up from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 price target on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $74.92.

Rhythm Pharmaceuticals Stock Up 4.6 %

Shares of RYTM stock traded up $2.74 during trading hours on Thursday, reaching $62.58. 990,323 shares of the company's stock were exchanged, compared to its average volume of 638,105. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The stock has a market capitalization of $3.96 billion, a P/E ratio of -14.45 and a beta of 2.32. The business has a fifty day moving average price of $54.94 and a 200-day moving average price of $55.86.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its 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 company had revenue of $41.83 million for the quarter, compared to analyst estimates of $38.48 million. As a group, research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jennifer Kayden Lee sold 1,815 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $56.39, for a total value of $102,347.85. Following the completion of the transaction, the executive vice president now directly owns 3,598 shares of the company's stock, valued at approximately $202,891.22. This represents a 33.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Yann Mazabraud sold 75,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were 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 approximately $2,078,247.60. This represents a 65.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,641 shares of company stock valued at $8,112,177 over the last ninety days. 5.60% of the stock is owned by company insiders.

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.