Diadema Partners LP Invests $4.20 Million in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Diadema Partners LP bought a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 75,000 shares of the company's stock, valued at approximately $4,198,000. Rhythm Pharmaceuticals comprises approximately 1.8% of Diadema Partners LP's holdings, making the stock its 9th largest position. Diadema Partners LP owned about 0.12% of Rhythm Pharmaceuticals at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Marshall Wace LLP increased its holdings in Rhythm Pharmaceuticals by 70.4% in the 4th quarter. Marshall Wace LLP now owns 692,803 shares of the company's stock worth $38,783,000 after acquiring an additional 286,188 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Rhythm Pharmaceuticals by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company's stock worth $24,645,000 after buying an additional 6,384 shares during the period. Pictet Asset Management Holding SA increased its stake in Rhythm Pharmaceuticals by 14.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 375,349 shares of the company's stock worth $21,012,000 after buying an additional 46,010 shares in the last quarter. Invesco Ltd. raised its holdings in Rhythm Pharmaceuticals by 14.5% during the fourth quarter. Invesco Ltd. now owns 302,846 shares of the company's stock valued at $16,953,000 after acquiring an additional 38,429 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Rhythm Pharmaceuticals by 3.4% in the fourth quarter. Franklin Resources Inc. now owns 268,205 shares of the company's stock valued at $15,014,000 after acquiring an additional 8,789 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently commented on RYTM. Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price target on the stock. Wells Fargo & Company increased their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a report on Monday, April 7th. Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a "buy" rating and a $80.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and set a $66.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Finally, Canaccord Genuity Group increased their price objective on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $74.92.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM traded up $0.79 during trading on Friday, reaching $63.76. 451,624 shares of the company were exchanged, compared to its average volume of 551,759. The firm has a market capitalization of $4.03 billion, a PE ratio of -14.73 and a beta of 2.32. The business's fifty day simple moving average is $55.19 and its 200-day simple moving average is $56.08. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its 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 the consensus estimate of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. On average, sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 1,281 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $76,129.83. Following the sale, the insider now owns 2,657 shares of the company's stock, valued at approximately $157,905.51. This trade represents a 32.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Yann Mazabraud sold 75,000 shares of the business's stock in a transaction 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 transaction, the executive vice president now directly owns 40,370 shares of the company's stock, valued at approximately $2,078,247.60. The trade was a 65.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,641 shares of company stock worth $8,112,177 in the last three months. Corporate insiders own 5.60% of the company's stock.

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.