Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC lessened its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,290,975 shares of the company's stock after selling 8,515 shares during the quarter. Driehaus Capital Management LLC owned about 2.10% of Rhythm Pharmaceuticals worth $72,269,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Marshall Wace LLP boosted its holdings in shares of Rhythm Pharmaceuticals by 70.4% during 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 in the last quarter. Norges Bank purchased a new stake in Rhythm Pharmaceuticals in the 4th quarter worth about $11,512,000. JPMorgan Chase & Co. increased its holdings in 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 acquiring 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 shares of Rhythm Pharmaceuticals during the 4th quarter valued at about $7,746,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RYTM shares. Bank of America raised Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price objective on the stock in a report on Monday, April 7th. Needham & Company LLC boosted their target price on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley restated an "overweight" rating and issued a $72.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. HC Wainwright reiterated a "buy" rating and set a $80.00 price objective (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Finally, Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price objective for the company. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $75.38.

Rhythm Pharmaceuticals Trading Up 0.3%

Shares of NASDAQ RYTM traded up $0.15 during midday trading on Tuesday, hitting $59.12. The company's stock had a trading volume of 162,949 shares, compared to its average volume of 546,768. The firm has a market cap of $3.76 billion, a P/E ratio of -13.65 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's 50 day moving average is $57.07 and its two-hundred day moving average is $57.17.

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

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 7,031 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was 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 document filed with the SEC, which is accessible through the SEC website. Also, EVP Jennifer Kayden Lee sold 1,815 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now owns 3,598 shares in the company, valued at $202,891.22. The trade was a 33.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,454 shares of company stock worth $8,125,729. Company 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.