Silverarc Capital Management LLC Grows Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Silverarc Capital Management LLC raised its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 273,896 shares of the company's stock after purchasing an additional 18,318 shares during the quarter. Rhythm Pharmaceuticals comprises 3.4% of Silverarc Capital Management LLC's holdings, making the stock its 11th biggest position. Silverarc Capital Management LLC owned approximately 0.45% of Rhythm Pharmaceuticals worth $15,333,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in Rhythm Pharmaceuticals by 79.6% in the 3rd quarter. Barclays PLC now owns 106,397 shares of the company's stock valued at $5,574,000 after buying an additional 47,166 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Rhythm Pharmaceuticals by 11.5% during the 3rd quarter. Franklin Resources Inc. now owns 259,416 shares of the company's stock worth $13,033,000 after purchasing an additional 26,739 shares during the period. Principal Financial Group Inc. increased its position in shares of Rhythm Pharmaceuticals by 241.9% during the third quarter. Principal Financial Group Inc. now owns 32,586 shares of the company's stock valued at $1,707,000 after acquiring an additional 23,054 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at approximately $28,000. Finally, KBC Group NV raised its holdings in shares of Rhythm Pharmaceuticals by 78.2% in the 4th quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after buying an additional 988 shares during the period.

Analyst Ratings Changes

RYTM has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They issued a "buy" rating and a $80.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a research report on Monday, April 7th. JMP Securities reissued a "market outperform" rating and set a $75.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Finally, Canaccord Genuity Group lifted their price target on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of "Buy" and a consensus price target of $74.92.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $60.48 on Tuesday. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of -13.97 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The stock's 50-day moving average is $54.84 and its 200 day moving average is $55.81.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (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 for the quarter, compared to analysts' expectations of $38.48 million. On average, sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Insider Transactions at Rhythm Pharmaceuticals

In other news, EVP Yann Mazabraud sold 17,750 shares of the business's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $60.99, for a total value of $1,082,572.50. Following the completion of the transaction, the executive vice president now owns 22,620 shares in the company, valued at $1,379,593.80. The trade was a 43.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Pamela J. Cramer sold 20,760 shares of the firm's 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 directly owns 19,209 shares in the company, valued at approximately $1,155,229.26. The trade was a 51.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,641 shares of company stock worth $8,112,177. Company insiders own 5.60% of the company's stock.

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.

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