XTX Topco Ltd Takes Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

XTX Topco Ltd purchased a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,605 shares of the company's stock, valued at approximately $426,000.

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

Rhythm Pharmaceuticals Stock Up 5.2 %

RYTM traded up $3.13 during trading on Thursday, reaching $62.97. The company's stock had a trading volume of 1,412,091 shares, compared to its average volume of 550,660. The firm has a fifty day simple moving average of $54.94 and a two-hundred day simple moving average of $55.86. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -14.54 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.03). The company had revenue of $41.83 million for the quarter, compared to analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. As a group, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RYTM has been the topic of several research analyst reports. Needham & Company LLC restated a "buy" rating and issued a $66.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. HC Wainwright reiterated a "buy" rating and set a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Stifel Nicolaus started coverage on Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They set a "buy" rating and a $78.00 target price on the stock. Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a "buy" rating and a $80.00 price objective on the stock. Finally, Bank of America upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price objective on the stock in a research report on Monday, April 7th. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $74.92.

Insider Activity

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 17,750 shares of the stock in a transaction dated Tuesday, April 8th. The shares were 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 directly owns 22,620 shares of the company's stock, valued at approximately $1,379,593.80. This trade represents a 43.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Christopher Paul German sold 635 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70. Following the completion of the sale, the chief accounting officer now owns 2,070 shares in the company, valued at $118,445.40. This represents a 23.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 146,641 shares of company stock valued at $8,112,177. 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.