BNP Paribas Financial Markets Acquires 70,824 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

BNP Paribas Financial Markets boosted its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 491.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,249 shares of the company's stock after purchasing an additional 70,824 shares during the period. BNP Paribas Financial Markets owned about 0.14% of Rhythm Pharmaceuticals worth $4,772,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. SRS Capital Advisors Inc. increased its stake in 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 purchasing an additional 400 shares during the period. Raleigh Capital Management Inc. purchased a new position in Rhythm Pharmaceuticals in the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. purchased a new position in Rhythm Pharmaceuticals in the 4th quarter worth approximately $37,000. R Squared Ltd purchased a new position in Rhythm Pharmaceuticals in the 4th quarter worth approximately $44,000. Finally, KBC Group NV increased its stake in Rhythm Pharmaceuticals by 78.2% in the 4th quarter. KBC Group NV now owns 2,251 shares of the company's stock worth $126,000 after purchasing an additional 988 shares during the period.

Rhythm Pharmaceuticals Price Performance

RYTM stock traded down $0.25 during midday trading on Friday, hitting $59.93. The stock had a trading volume of 687,672 shares, compared to its average volume of 554,411. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of -13.84 and a beta of 2.36. The business has a 50-day moving average of $57.73 and a two-hundred day moving average of $57.32. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company had revenue of $37.72 million during the quarter, compared to the consensus estimate of $40.43 million. During the same period last year, the firm posted ($2.35) earnings per share. The company's revenue was up 25.9% compared to the same quarter last year. Research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 1,228 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 value of $70,266.16. Following the sale, the insider now directly owns 8,509 shares of the company's stock, valued at approximately $486,884.98. The trade was a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Yann Mazabraud sold 6,745 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $65.08, for a total value of $438,964.60. Following the completion of the sale, the executive vice president now directly owns 37,655 shares in the company, valued at $2,450,587.40. This trade represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,639 shares of company stock valued at $8,023,381. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Needham & Company LLC lifted their price target on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They set a "buy" rating and a $78.00 target price on the stock. Bank of America raised Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price on the stock in a research note on Monday, April 7th. HC Wainwright reissued a "buy" rating and set a $80.00 target price (up from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company boosted their target price on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $75.38.

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.