Artia Global Partners LP Makes New Investment in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Artia Global Partners LP purchased a new position 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 and Exchange Commission. The firm purchased 50,000 shares of the company's stock, valued at approximately $2,799,000. Rhythm Pharmaceuticals makes up 1.0% of Artia Global Partners LP's portfolio, making the stock its 18th largest position. Artia Global Partners LP owned about 0.08% of Rhythm Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC raised 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 worth $5,574,000 after buying an additional 47,166 shares in the last quarter. Franklin Resources Inc. raised its stake in Rhythm Pharmaceuticals by 11.5% during the third quarter. Franklin Resources Inc. now owns 259,416 shares of the company's stock worth $13,033,000 after acquiring an additional 26,739 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Rhythm Pharmaceuticals by 241.9% in the third quarter. Principal Financial Group Inc. now owns 32,586 shares of the company's stock worth $1,707,000 after acquiring an additional 23,054 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at approximately $28,000. Finally, KBC Group NV grew its holdings in shares of 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 purchasing an additional 988 shares during the last quarter.

Insider Buying and Selling

In other news, insider Joseph Shulman sold 1,281 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $76,129.83. Following the sale, the insider now owns 2,657 shares of the company's stock, valued at $157,905.51. The trade was a 32.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Yann Mazabraud sold 75,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the completion of the transaction, the executive vice president now directly owns 40,370 shares of the company's stock, valued at approximately $2,078,247.60. This trade represents a 65.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 160,417 shares of company stock valued at $9,008,789. 5.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RYTM. Morgan Stanley restated an "overweight" rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Wells Fargo & Company boosted their price objective on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Needham & Company LLC reiterated a "buy" rating and issued a $66.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Bank of America raised Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target on the stock in a research note on Monday, April 7th. Finally, Canaccord Genuity Group upped their price objective on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rhythm Pharmaceuticals currently has an average rating of "Buy" and a consensus target price of $74.92.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock traded up $1.27 during trading hours on Friday, reaching $65.07. The company had a trading volume of 156,002 shares, compared to its average volume of 547,889. The business has a fifty day simple moving average of $55.83 and a 200-day simple moving average of $56.51. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58. The company has a market cap of $4.11 billion, a price-to-earnings ratio of -15.04 and a beta of 2.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted 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). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm had revenue of $41.83 million for the quarter, compared to analysts' expectations of $38.48 million. On average, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share 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.