Bellevue Group AG Purchases 7,896 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Bellevue Group AG boosted its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 50.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,596 shares of the company's stock after acquiring an additional 7,896 shares during the period. Bellevue Group AG's holdings in Rhythm Pharmaceuticals were worth $1,321,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock worth $25,000 after acquiring an additional 400 shares during the last quarter. Raleigh Capital Management Inc. bought a new stake in Rhythm Pharmaceuticals during the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth approximately $37,000. R Squared Ltd purchased a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth approximately $44,000. Finally, Swiss National Bank boosted its position in shares of Rhythm Pharmaceuticals by 1.0% during the fourth quarter. Swiss National Bank now owns 90,200 shares of the company's stock valued at $5,049,000 after buying an additional 900 shares during the last quarter.

Insider Activity at Rhythm Pharmaceuticals

In other news, EVP Yann Mazabraud sold 6,745 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $65.08, for a total transaction of $438,964.60. Following the sale, the executive vice president now directly owns 37,655 shares in the company, valued at $2,450,587.40. This represents a 15.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Christopher Paul German sold 635 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the completion of 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 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 worth $9,008,789. 5.60% of the stock is owned by corporate insiders.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM opened at $64.01 on Friday. The firm has a market cap of $4.07 billion, a PE ratio of -14.78 and a beta of 2.36. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The stock's fifty day moving average price is $56.09 and its two-hundred day moving average price is $56.64.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The business had revenue of $41.83 million for the quarter, compared to analysts' expectations of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on RYTM shares. Morgan Stanley restated an "overweight" rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Canaccord Genuity Group boosted their price target 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. Stifel Nicolaus began coverage on shares of Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price objective for the company. Wells Fargo & Company boosted their target price on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $74.92.

Rhythm Pharmaceuticals Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.