Driehaus Capital Management LLC Cuts Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Driehaus Capital Management LLC decreased its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,290,975 shares of the company's stock after selling 8,515 shares during the period. Driehaus Capital Management LLC owned 2.10% of Rhythm Pharmaceuticals worth $72,269,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in RYTM. Marshall Wace LLP grew its stake in shares of 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 buying an additional 286,188 shares during the last quarter. Norges Bank bought a new position in shares of Rhythm Pharmaceuticals during the fourth quarter valued at $11,512,000. JPMorgan Chase & Co. raised its position in shares of Rhythm Pharmaceuticals by 224.3% in the 4th quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company's stock worth $14,811,000 after purchasing an additional 182,993 shares during the last quarter. Walleye Capital LLC bought a new position in Rhythm Pharmaceuticals in the 4th quarter worth about $8,080,000. Finally, Balyasny Asset Management L.P. bought a new stake in Rhythm Pharmaceuticals during the 4th quarter valued at about $7,746,000.

Rhythm Pharmaceuticals Trading Down 5.5 %

Rhythm Pharmaceuticals stock traded down $3.35 during trading on Friday, reaching $57.37. The company had a trading volume of 895,480 shares, compared to its average volume of 548,139. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of -13.25 and a beta of 2.36. The firm's 50-day simple moving average is $56.95 and its 200 day simple moving average is $57.05. 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 posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) earnings per share for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.12). The company had revenue of $37.72 million for the quarter, compared to analysts' expectations of $40.43 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm's quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.35) earnings per share. On average, analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Pamela J. Cramer sold 7,031 shares of Rhythm Pharmaceuticals stock in a transaction 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 transaction, the insider now owns 19,209 shares in the company, valued at approximately $1,250,313.81. The trade was a 26.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Yann Mazabraud sold 75,000 shares of the 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 sale, the executive vice president now owns 40,370 shares of the company's stock, valued at $2,078,247.60. The trade was a 65.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 151,733 shares of company stock worth $8,492,699 over the last three months. 5.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RYTM has been the topic of a number of recent analyst reports. Needham & Company LLC increased their price target on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday. Morgan Stanley reissued an "overweight" rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Stifel Nicolaus started coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They set a "buy" rating and a $78.00 price target on the stock. Wells Fargo & Company increased their price objective on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a research report on Monday, April 7th. Finally, HC Wainwright restated 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Rhythm Pharmaceuticals currently has an average 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.