Dark Forest Capital Management LP Invests $292,000 in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Dark Forest Capital Management LP bought a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 5,211 shares of the company's stock, valued at approximately $292,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RYTM. SRS Capital Advisors Inc. grew its holdings in Rhythm Pharmaceuticals by 740.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock valued at $25,000 after purchasing an additional 400 shares during the period. Raleigh Capital Management Inc. bought a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new stake in Rhythm Pharmaceuticals during the 4th quarter worth $37,000. R Squared Ltd acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at about $44,000. Finally, KBC Group NV increased its holdings in shares of Rhythm Pharmaceuticals by 78.2% in the fourth quarter. KBC Group NV now owns 2,251 shares of the company's stock worth $126,000 after acquiring an additional 988 shares in the last quarter.

Insider Buying and Selling

In related news, CAO Christopher Paul German sold 635 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $36,334.70. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Pamela J. Cramer sold 7,031 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $65.09, for a total transaction of $457,647.79. Following the sale, the insider now owns 19,209 shares in the company, 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 ninety days, insiders have sold 160,417 shares of company stock worth $9,008,789. 5.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target on the stock in a report on Monday, April 7th. Canaccord Genuity Group raised their price target on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. Jefferies Financial Group started coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a "buy" rating and a $80.00 price target on the stock. Needham & Company LLC restated a "buy" rating and issued a $66.00 price objective on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Finally, HC Wainwright reiterated a "buy" rating and set a $80.00 target price (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $74.92.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM stock traded up $0.21 during trading hours on Friday, hitting $64.01. 475,184 shares of the company were exchanged, compared to its average volume of 549,116. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The company has a 50 day simple moving average of $56.09 and a two-hundred day simple moving average of $56.61. The firm has a market cap of $4.05 billion, a P/E ratio of -14.78 and a beta of 2.32.

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

About Rhythm Pharmaceuticals

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.