Algert Global LLC Has $2.33 Million Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Algert Global LLC lessened its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 23.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,551 shares of the company's stock after selling 12,620 shares during the period. Algert Global LLC owned about 0.07% of Rhythm Pharmaceuticals worth $2,326,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of RYTM. SRS Capital Advisors Inc. raised its holdings in Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock valued at $25,000 after acquiring an additional 400 shares during the period. Raleigh Capital Management Inc. bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $37,000. R Squared Ltd bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $44,000. Finally, KBC Group NV raised its holdings in Rhythm Pharmaceuticals by 78.2% in 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.

Analyst Ratings Changes

RYTM has been the topic of several research analyst reports. Wells Fargo & Company increased their price target on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a report on Monday, April 7th. HC Wainwright reiterated a "buy" rating and issued a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Morgan Stanley reiterated an "overweight" rating and issued a $72.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Needham & Company LLC lifted their price target on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Canaccord Genuity Group lifted their price target on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of "Buy" and a consensus target price of $75.38.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 7,031 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $65.09, for a total transaction of $457,647.79. Following the sale, the insider now owns 19,209 shares of the company's stock, valued at approximately $1,250,313.81. The trade was a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Christopher Paul German sold 635 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the sale, the chief accounting officer now directly owns 2,070 shares in the company, valued at approximately $118,445.40. The trade was a 23.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,544 shares of company stock valued at $8,245,925 over the last three months. 5.60% of the stock is owned by insiders.

Rhythm Pharmaceuticals Price Performance

NASDAQ:RYTM traded up $1.59 during mid-day trading on Monday, reaching $58.97. The stock had a trading volume of 561,969 shares, compared to its average volume of 548,194. The stock has a 50-day simple moving average of $56.95 and a two-hundred day simple moving average of $57.10. The stock has a market capitalization of $3.75 billion, a PE ratio of -13.62 and a beta of 2.36. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.12). The firm had revenue of $37.72 million during the quarter, compared to the consensus estimate of $40.43 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The business's revenue was up 25.9% compared to the same quarter last year. During the same period last year, the business earned ($2.35) earnings per share. Equities 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.