Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Baker BROS. Advisors LP

Baker BROS. Advisors LP decreased its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,084,249 shares of the company's stock after selling 314,117 shares during the quarter. Rhythm Pharmaceuticals makes up 3.6% of Baker BROS. Advisors LP's holdings, making the stock its 8th largest position. Baker BROS. Advisors LP owned about 9.90% of Rhythm Pharmaceuticals worth $340,596,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Balyasny Asset Management L.P. acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at approximately $7,746,000. Bellevue Group AG lifted its stake in shares of Rhythm Pharmaceuticals by 50.3% in the 4th quarter. Bellevue Group AG now owns 23,596 shares of the company's stock valued at $1,321,000 after purchasing an additional 7,896 shares during the period. BNP Paribas Financial Markets boosted its holdings in Rhythm Pharmaceuticals by 491.0% during the fourth quarter. BNP Paribas Financial Markets now owns 85,249 shares of the company's stock worth $4,772,000 after buying an additional 70,824 shares in the last quarter. Ameriprise Financial Inc. grew its position in Rhythm Pharmaceuticals by 27.4% during the fourth quarter. Ameriprise Financial Inc. now owns 53,367 shares of the company's stock valued at $2,987,000 after buying an additional 11,480 shares during the period. Finally, PDT Partners LLC grew its position in Rhythm Pharmaceuticals by 279.0% during the fourth quarter. PDT Partners LLC now owns 43,583 shares of the company's stock valued at $2,440,000 after buying an additional 32,083 shares during the period.

Wall Street Analysts Forecast Growth

RYTM has been the subject of a number of analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Canaccord Genuity Group upped their price target on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Needham & Company LLC restated a "buy" rating and issued a $66.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. HC Wainwright reiterated a "buy" rating and set a $80.00 target price (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company lifted their price target on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $74.92.

Rhythm Pharmaceuticals Trading Down 2.6 %

RYTM traded down $1.70 on Tuesday, hitting $62.71. 827,800 shares of the company's stock were exchanged, compared to its average volume of 546,797. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of -14.48 and a beta of 2.36. The firm has a 50-day moving average price of $56.31 and a 200-day moving average price of $56.77.

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 the consensus estimate of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The business had revenue of $41.83 million for the quarter, compared to analysts' expectations of $38.48 million. On average, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 75,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $51.48, for a total value of $3,861,000.00. Following the completion of the sale, the executive vice president now directly owns 40,370 shares of the company's stock, valued at $2,078,247.60. This trade represents a 65.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Shulman sold 794 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $57.51, for a total value of $45,662.94. Following the transaction, the insider now owns 6 shares in the company, valued at approximately $345.06. This represents a 99.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 151,733 shares of company stock valued at $8,492,699. 5.60% of the stock is currently owned by insiders.

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.