Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stake Boosted by Barclays PLC

Barclays PLC boosted its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 27.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,397 shares of the company's stock after purchasing an additional 29,000 shares during the period. Barclays PLC owned approximately 0.22% of Rhythm Pharmaceuticals worth $7,579,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in Rhythm Pharmaceuticals by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company's stock valued at $24,645,000 after purchasing an additional 6,384 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Rhythm Pharmaceuticals by 14.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 375,349 shares of the company's stock valued at $21,012,000 after buying an additional 46,010 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Rhythm Pharmaceuticals by 14.5% during the 4th quarter. Invesco Ltd. now owns 302,846 shares of the company's stock valued at $16,953,000 after buying an additional 38,429 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Rhythm Pharmaceuticals by 3.4% in the fourth quarter. Franklin Resources Inc. now owns 268,205 shares of the company's stock worth $15,014,000 after buying an additional 8,789 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Rhythm Pharmaceuticals by 224.3% in the fourth quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company's stock valued at $14,811,000 after acquiring an additional 182,993 shares in the last quarter.

Wall Street Analyst Weigh In

RYTM has been the subject of several research analyst reports. Wells Fargo & Company boosted their target price on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Morgan Stanley reaffirmed an "overweight" rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, March 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 report on Tuesday, April 8th. Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They set a "buy" rating and a $78.00 price objective on the stock. Finally, Canaccord Genuity Group increased their target price on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $74.92.

Insider Activity at Rhythm Pharmaceuticals

In other news, CAO Christopher Paul German sold 635 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yann Mazabraud sold 75,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the completion of the sale, the executive vice president now 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 position. The disclosure for this sale can be found here. Insiders sold 146,641 shares of company stock valued at $8,112,177 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

Rhythm Pharmaceuticals Trading Up 0.1 %

RYTM traded up $0.10 on Tuesday, reaching $64.51. The company had a trading volume of 35,340 shares, compared to its average volume of 549,384. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The company has a market capitalization of $4.08 billion, a P/E ratio of -14.87 and a beta of 2.32. The company has a fifty day moving average of $55.19 and a 200-day moving average of $56.19.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $38.48 million. Research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

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.