Trexquant Investment LP Buys Shares of 7,798 Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Trexquant Investment LP purchased a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,798 shares of the company's stock, valued at approximately $437,000.

Several other hedge funds have also recently added to or reduced their stakes in RYTM. Geode Capital Management LLC lifted its position in Rhythm Pharmaceuticals by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company's stock worth $65,824,000 after buying an additional 3,499 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company's stock valued at $24,645,000 after purchasing an additional 6,384 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Rhythm Pharmaceuticals by 14.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 375,349 shares of the company's stock valued at $21,012,000 after purchasing an additional 46,010 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Rhythm Pharmaceuticals by 3.4% during the fourth quarter. Franklin Resources Inc. now owns 268,205 shares of the company's stock valued at $15,014,000 after buying an additional 8,789 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Rhythm Pharmaceuticals by 224.3% during the 4th quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company's stock valued at $14,811,000 after buying an additional 182,993 shares during the period.

Rhythm Pharmaceuticals Stock Up 0.7 %

Shares of RYTM traded up $0.40 during mid-day trading on Friday, reaching $61.74. 628,803 shares of the stock traded hands, compared to its average volume of 542,478. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of -14.26 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The stock has a fifty day simple moving average of $54.70 and a 200 day simple moving average of $55.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business had revenue of $41.83 million for 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 fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RYTM. Needham & Company LLC reissued a "buy" rating and issued a $66.00 target price on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Bank of America upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target on the stock in a research note on Monday, April 7th. Oppenheimer started coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an "outperform" rating and a $76.00 price target for the company. Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They set a "buy" rating and a $78.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a "buy" rating and a $80.00 price objective for the company. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $74.92.

Insider Activity at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 1,281 shares of the business's stock in a transaction 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 transaction, the insider now owns 2,657 shares of the company's stock, valued at approximately $157,905.51. The trade was a 32.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Pamela J. Cramer sold 20,760 shares of the stock in a transaction dated 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 sale, the insider now directly owns 19,209 shares in the company, valued at approximately $1,155,229.26. This trade represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,641 shares of company stock worth $8,112,177 in the last 90 days. 5.60% of the stock is currently owned by company insiders.

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.