Entropy Technologies LP acquired a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,502 shares of the company's stock, valued at approximately $291,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Victory Capital Management Inc. grew its position in Rhythm Pharmaceuticals by 1.0% during the first quarter. Victory Capital Management Inc. now owns 17,326 shares of the company's stock valued at $918,000 after acquiring an additional 174 shares during the last quarter. Xponance Inc. grew its position in Rhythm Pharmaceuticals by 4.7% during the first quarter. Xponance Inc. now owns 4,365 shares of the company's stock valued at $231,000 after acquiring an additional 197 shares during the last quarter. Principal Financial Group Inc. grew its position in Rhythm Pharmaceuticals by 0.7% during the first quarter. Principal Financial Group Inc. now owns 37,156 shares of the company's stock valued at $1,968,000 after acquiring an additional 272 shares during the last quarter. GF Fund Management CO. LTD. grew its position in Rhythm Pharmaceuticals by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,573 shares of the company's stock valued at $83,000 after acquiring an additional 283 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in Rhythm Pharmaceuticals by 2.3% during the fourth quarter. Two Sigma Advisers LP now owns 13,100 shares of the company's stock valued at $733,000 after acquiring an additional 300 shares during the last quarter.
Rhythm Pharmaceuticals Stock Down 1.4%
Shares of RYTM stock opened at $96.48 on Friday. The stock has a fifty day moving average of $77.87 and a 200 day moving average of $64.75. Rhythm Pharmaceuticals, Inc. has a 52 week low of $43.57 and a 52 week high of $99.04. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of -32.05 and a beta of 2.38.
Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.75) EPS for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.09). Rhythm Pharmaceuticals had a negative return on equity of 1,831.43% and a negative net margin of 117.13%. The business had revenue of $48.50 million during the quarter, compared to analysts' expectations of $43.72 million. During the same period in the previous year, the business earned ($0.55) EPS. The business's revenue was up 66.8% compared to the same quarter last year. Equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have commented on RYTM shares. Morgan Stanley reiterated an "overweight" rating and set a $109.00 price target (up from $100.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, August 5th. JMP Securities increased their price target on shares of Rhythm Pharmaceuticals from $130.00 to $135.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Stifel Nicolaus increased their price objective on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, Oppenheimer increased their price objective on Rhythm Pharmaceuticals from $76.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Rhythm Pharmaceuticals currently has a consensus rating of "Buy" and an average target price of $101.57.
Read Our Latest Report on Rhythm Pharmaceuticals
Insider Buying and Selling
In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 3,984 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $90.08, for a total value of $358,878.72. Following the completion of the transaction, the insider owned 8,509 shares in the company, valued at approximately $766,490.72. This represents a 31.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alastair Garfield sold 1,319 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $64.81, for a total value of $85,484.39. Following the completion of the transaction, the insider owned 3,126 shares of the company's stock, valued at approximately $202,596.06. This trade represents a 29.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 114,989 shares of company stock valued at $9,558,460 over the last three months. Insiders own 6.10% of the company's stock.
Rhythm Pharmaceuticals Company Profile
(
Free Report)
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.
See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Rhythm Pharmaceuticals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rhythm Pharmaceuticals wasn't on the list.
While Rhythm Pharmaceuticals currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.