Victory Capital Management Inc. Has $953,000 Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Victory Capital Management Inc. lifted its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 158.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,186 shares of the company's stock after acquiring an additional 11,137 shares during the period. Victory Capital Management Inc.'s holdings in Rhythm Pharmaceuticals were worth $953,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. CWM LLC lifted its position in shares of Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company's stock valued at $27,000 after buying an additional 253 shares during the last quarter. ORG Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 2nd quarter valued at $51,000. ORG Wealth Partners LLC purchased a new position in Rhythm Pharmaceuticals during the third quarter worth approximately $63,000. Quest Partners LLC grew its stake in Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company's stock valued at $68,000 after acquiring an additional 1,391 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company's stock valued at $114,000 after purchasing an additional 391 shares during the period.

Insider Activity

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 4,099 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $50.03, for a total value of $205,072.97. Following the completion of the sale, the insider now owns 13,500 shares in the company, valued at approximately $675,405. This trade represents a 23.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lynn A. Tetrault sold 17,501 shares of the company's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $49.65, for a total value of $868,924.65. Following the transaction, the director now directly owns 3,000 shares in the company, valued at $148,950. This trade represents a 85.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 138,181 shares of company stock worth $8,359,750. Corporate insiders own 5.60% of the company's stock.

Wall Street Analyst Weigh In

RYTM has been the topic of several recent analyst reports. HC Wainwright reiterated a "buy" rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. Needham & Company LLC increased their target price on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Bank of America boosted their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Finally, Guggenheim began coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a "buy" rating and a $70.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $62.30.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ RYTM traded up $0.30 during trading hours on Thursday, hitting $62.25. The stock had a trading volume of 432,859 shares, compared to its average volume of 548,383. The company has a market capitalization of $3.83 billion, a P/E ratio of -14.38 and a beta of 2.09. Rhythm Pharmaceuticals, Inc. has a 52 week low of $31.52 and a 52 week high of $68.58. The firm's 50-day moving average price is $53.90 and its two-hundred day moving average price is $47.69.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.07. The company had revenue of $33.20 million during the quarter, compared to analysts' expectations of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. Rhythm Pharmaceuticals's revenue for the quarter was up 47.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.76) earnings per share. As a group, analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.36 EPS for the current fiscal year.

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.