5,866 Shares in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,866 shares of the company's stock, valued at approximately $328,000.

Other large investors also recently modified their holdings of the company. Cannon Financial Strategists Inc. bought a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth $560,000. Principal Financial Group Inc. grew its stake in Rhythm Pharmaceuticals by 13.2% in the 4th quarter. Principal Financial Group Inc. now owns 36,884 shares of the company's stock valued at $2,065,000 after buying an additional 4,298 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at $1,960,000. Rhumbline Advisers grew its stake in Rhythm Pharmaceuticals by 2.5% during the fourth quarter. Rhumbline Advisers now owns 82,731 shares of the company's stock worth $4,631,000 after buying an additional 2,017 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in Rhythm Pharmaceuticals by 10.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,031 shares of the company's stock worth $729,000 after acquiring an additional 1,273 shares in the last quarter.

Insider Buying and Selling

In related news, CAO Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $36,334.70. Following the completion of the transaction, the chief accounting officer now owns 2,070 shares in the company, valued at $118,445.40. The trade was a 23.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Shulman sold 1,281 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $76,129.83. Following the transaction, the insider now owns 2,657 shares of the company's stock, valued at $157,905.51. This represents a 32.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,787 shares of company stock worth $1,901,443. 5.60% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

RYTM has been the topic of several recent research reports. Morgan Stanley reiterated an "overweight" rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday. Oppenheimer started coverage on Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an "outperform" rating and a $76.00 price objective for the company. Canaccord Genuity Group increased their price objective on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Stifel Nicolaus began coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday. They set a "buy" rating and a $78.00 target price on the stock. Finally, HC Wainwright raised their price target on shares of Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $69.31.

Rhythm Pharmaceuticals Trading Down 1.4 %

Shares of RYTM traded down $0.75 during midday trading on Friday, reaching $50.90. 240,902 shares of the stock were exchanged, compared to its average volume of 489,851. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58. The company's 50 day moving average is $56.63 and its two-hundred day moving average is $54.45. The company has a market capitalization of $3.13 billion, a P/E ratio of -11.75 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its earnings results 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). The firm had revenue of $41.83 million during 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%. On average, sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

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.