Ameriprise Financial Inc. Purchases 11,480 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Ameriprise Financial Inc. grew its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 27.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,367 shares of the company's stock after acquiring an additional 11,480 shares during the quarter. Ameriprise Financial Inc. owned 0.09% of Rhythm Pharmaceuticals worth $2,987,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in RYTM. Marshall Wace LLP raised its position 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 purchasing an additional 286,188 shares during the period. Norges Bank purchased a new stake in Rhythm Pharmaceuticals during the fourth quarter valued at about $11,512,000. JPMorgan Chase & Co. grew its stake in shares of Rhythm Pharmaceuticals by 224.3% during the fourth quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company's stock valued at $14,811,000 after buying an additional 182,993 shares during the last quarter. Walleye Capital LLC purchased a new stake in Rhythm Pharmaceuticals during the 4th quarter valued at $8,080,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Rhythm Pharmaceuticals by 24.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 685,152 shares of the company's stock valued at $38,355,000 after acquiring an additional 134,622 shares during the last quarter.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 7,031 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $65.09, for a total value of $457,647.79. Following the transaction, the insider now owns 19,209 shares in the company, valued at $1,250,313.81. This represents a 26.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Yann Mazabraud sold 17,750 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $60.99, for a total transaction of $1,082,572.50. Following the completion of the transaction, the executive vice president now directly owns 22,620 shares in the company, valued at approximately $1,379,593.80. The trade was a 43.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,630 shares of company stock valued at $7,107,346. 6.10% of the stock is owned by company insiders.

Rhythm Pharmaceuticals Stock Up 3.8%

Shares of Rhythm Pharmaceuticals stock traded up $2.29 on Thursday, reaching $61.88. The company's stock had a trading volume of 550,380 shares, compared to its average volume of 555,765. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.35 and a 52 week high of $68.58. The firm's fifty day simple moving average is $59.38 and its two-hundred day simple moving average is $57.59. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of -14.29 and a beta of 2.36.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate 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 business had revenue of $37.72 million for the quarter, compared to analysts' expectations of $40.43 million. During the same period last year, the business earned ($2.35) earnings per share. The company's quarterly revenue was up 25.9% on a year-over-year basis. As a group, research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RYTM shares. HC Wainwright restated a "buy" rating and set a $80.00 price target (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Bank of America raised Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price on the stock in a research note on Monday, April 7th. Wells Fargo & Company upped their target price on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a report on Monday, April 7th. Stifel Nicolaus raised their price target on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Morgan Stanley reissued an "overweight" rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat, Rhythm Pharmaceuticals currently has an average rating of "Buy" and a consensus target price of $76.62.

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.