4,604 Shares in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Purchased by Bridgefront Capital LLC

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Balyasny Asset Management L.P. purchased a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $7,746,000. Bellevue Group AG lifted its position in Rhythm Pharmaceuticals by 50.3% during the fourth 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 last quarter. BNP Paribas Financial Markets increased its holdings in shares of Rhythm Pharmaceuticals by 491.0% in the 4th 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 during the last quarter. Ameriprise Financial Inc. raised its position in shares of Rhythm Pharmaceuticals by 27.4% during the 4th 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 in the last quarter. Finally, PDT Partners LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 279.0% during the 4th quarter. PDT Partners LLC now owns 43,583 shares of the company's stock worth $2,440,000 after acquiring an additional 32,083 shares during the last quarter.

Rhythm Pharmaceuticals Stock Performance

NASDAQ:RYTM traded down $0.20 during midday trading on Tuesday, reaching $58.77. 109,979 shares of the stock traded hands, compared to its average volume of 546,475. The stock has a market capitalization of $3.74 billion, a PE ratio of -13.57 and a beta of 2.36. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The business has a 50-day moving average of $57.07 and a two-hundred day moving average of $57.17.

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

Insiders Place Their Bets

In other news, EVP Jennifer Kayden Lee sold 1,815 shares of Rhythm Pharmaceuticals stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $56.39, for a total value of $102,347.85. Following the completion of the sale, the executive vice president now directly owns 3,598 shares of the company's stock, valued at approximately $202,891.22. The trade was a 33.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Pamela J. Cramer sold 7,031 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $65.09, for a total value of $457,647.79. Following the transaction, the insider now directly owns 19,209 shares of the company's stock, valued at $1,250,313.81. The trade was a 26.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,454 shares of company stock worth $8,125,729. 5.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RYTM shares. Wells Fargo & Company raised their price target on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. Canaccord Genuity Group lifted 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. Stifel Nicolaus initiated 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. Morgan Stanley reiterated an "overweight" rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Finally, HC Wainwright reissued a "buy" rating and set a $80.00 target price (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rhythm Pharmaceuticals has a consensus rating of "Buy" and a consensus target price 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.