Walleye Capital LLC Invests $8.08 Million in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Walleye Capital LLC purchased a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 144,342 shares of the company's stock, valued at approximately $8,080,000. Walleye Capital LLC owned 0.23% of Rhythm Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RYTM. Principal Financial Group Inc. lifted its stake in shares of Rhythm Pharmaceuticals by 241.9% in the 3rd 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 period. Barclays PLC boosted its holdings in shares of Rhythm Pharmaceuticals by 79.6% during 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. KLP Kapitalforvaltning AS bought a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth about $521,000. KBC Group NV lifted its position in Rhythm Pharmaceuticals by 78.2% during the 4th quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after acquiring an additional 988 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in Rhythm Pharmaceuticals during the fourth quarter worth about $37,000.

Analyst Ratings Changes

Several equities research analysts have commented on the company. JMP Securities reissued a "market outperform" rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Bank of America upgraded shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price objective for the company in a report on Monday, April 7th. Stifel Nicolaus started coverage on Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They set a "buy" rating and a $78.00 price objective on the stock. Morgan Stanley reissued an "overweight" rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Finally, Canaccord Genuity Group raised their price target on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $74.92.

Rhythm Pharmaceuticals Trading Up 0.7 %

Rhythm Pharmaceuticals stock traded up $0.45 during trading on Monday, reaching $62.19. The company had a trading volume of 102,253 shares, compared to its average volume of 540,884. The firm's 50-day simple moving average is $54.79 and its 200 day simple moving average is $55.73. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of -14.36 and a beta of 2.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) 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 the consensus estimate 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, analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 20,760 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $60.14, for a total value of $1,248,506.40. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Christopher Paul German sold 635 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70. Following the transaction, the chief accounting officer now directly owns 2,070 shares of the company's stock, valued at $118,445.40. This trade represents a 23.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,641 shares of company stock worth $8,112,177. Corporate insiders own 5.60% of the company's stock.

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.