22,192 Shares in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. purchased a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 22,192 shares of the company's stock, valued at approximately $1,176,000.

Other large investors have also made changes to their positions in the company. SRS Capital Advisors Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock valued at $25,000 after purchasing an additional 400 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $37,000. State of Wyoming purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $61,000. GF Fund Management CO. LTD. purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $72,000. Finally, Freestone Capital Holdings LLC purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $207,000.

Rhythm Pharmaceuticals Trading Down 0.8%

Shares of NASDAQ RYTM traded down $0.49 during midday trading on Thursday, reaching $61.48. 622,915 shares of the stock were exchanged, compared to its average volume of 556,592. The company has a market capitalization of $3.91 billion, a P/E ratio of -21.88 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a 52-week low of $39.46 and a 52-week high of $69.89. The stock has a 50 day moving average price of $62.30 and a 200-day moving average price of $57.97.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.12). The firm had revenue of $37.72 million for the quarter, compared to analysts' expectations of $40.43 million. Rhythm Pharmaceuticals had a negative return on equity of 739.62% and a negative net margin of 123.26%. The business's quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.35) earnings per share. On average, analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insider Transactions at Rhythm Pharmaceuticals

In related news, insider Pamela J. Cramer sold 7,031 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $68.05, for a total value of $478,459.55. Following the sale, the insider now directly owns 19,209 shares of the company's stock, valued at approximately $1,307,172.45. This trade represents a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher Paul German sold 2,069 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $67.19, for a total transaction of $139,016.11. Following the completion of the sale, the chief accounting officer now directly owns 1,889 shares in the company, valued at $126,921.91. This represents a 52.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,730 shares of company stock worth $3,863,822 over the last ninety days. 6.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RYTM shares. Wells Fargo & Company increased their price target 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. Bank of America upgraded shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price for the company in a report on Monday, April 7th. Stifel Nicolaus raised their target price on shares of Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Canaccord Genuity Group raised their target price on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Finally, Needham & Company LLC raised their target price on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $76.62.

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.