Bridgefront Capital LLC Acquires Shares of 4,604 Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Bridgefront Capital LLC acquired a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,604 shares of the company's stock, valued at approximately $258,000.

Other large investors also recently bought and sold shares of the company. SRS Capital Advisors Inc. lifted its stake in Rhythm Pharmaceuticals by 740.7% during the fourth 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 last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at approximately $37,000. R Squared Ltd acquired a new stake in Rhythm Pharmaceuticals in the fourth quarter worth $44,000. Finally, KBC Group NV boosted its holdings in shares of Rhythm Pharmaceuticals by 78.2% during the fourth quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after acquiring an additional 988 shares during the period.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock traded down $3.35 during midday trading on Friday, reaching $57.37. The stock had a trading volume of 895,480 shares, compared to its average volume of 548,139. The firm's fifty day simple moving average is $56.95 and its two-hundred day simple moving average is $57.05. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of -13.25 and a beta of 2.36.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) earnings per share (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 business had revenue of $37.72 million during the quarter, compared to analysts' expectations of $40.43 million. During the same period in the prior year, the company posted ($2.35) earnings per share. The firm's revenue was up 25.9% on a year-over-year basis. As a group, sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 7,031 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $65.09, for a total value of $457,647.79. Following the completion of the sale, the insider now directly owns 19,209 shares of the company's stock, valued at $1,250,313.81. This represents a 26.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value 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 $2,078,247.60. This represents a 65.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 151,733 shares of company stock worth $8,492,699 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. 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. Canaccord Genuity Group upped their price objective 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. Morgan Stanley restated an "overweight" rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Needham & Company LLC raised their price objective on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They issued a "buy" rating and a $78.00 target price for the company. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $75.38.

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.