D. E. Shaw & Co. Inc. Buys 43,904 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

D. E. Shaw & Co. Inc. increased its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 1,022.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 48,198 shares of the company's stock after purchasing an additional 43,904 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.08% of Rhythm Pharmaceuticals worth $2,698,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. SRS Capital Advisors Inc. increased its position in shares of Rhythm Pharmaceuticals by 740.7% during 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 during the last quarter. Raleigh Capital Management Inc. bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at $28,000. SBI Securities Co. Ltd. bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at $37,000. R Squared Ltd bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at $44,000. Finally, KBC Group NV grew its position in Rhythm Pharmaceuticals by 78.2% in the 4th quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after acquiring an additional 988 shares during the last quarter.

Insider Buying and Selling

In related news, CAO Christopher Paul German sold 635 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the transaction, the chief accounting officer now directly owns 2,070 shares of the company's stock, valued at $118,445.40. This represents a 23.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Yann Mazabraud sold 75,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $51.48, for a total value of $3,861,000.00. Following the transaction, the executive vice president now directly owns 40,370 shares in the company, valued at $2,078,247.60. This represents a 65.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,639 shares of company stock worth $8,023,381 in the last three months. 6.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RYTM shares. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price objective (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Morgan Stanley reaffirmed an "overweight" rating and issued a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Wells Fargo & Company upped 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. Stifel Nicolaus began coverage on Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price objective on the stock. Finally, Bank of America upgraded 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. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $75.38.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ RYTM opened at $61.25 on Tuesday. The stock has a market capitalization of $3.90 billion, a P/E ratio of -14.15 and a beta of 2.36. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The business has a fifty day moving average price of $57.93 and a 200 day moving average price of $57.52.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued 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 return on equity of 367.36% and a negative net margin of 230.07%. The company's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter last year, the company earned ($2.35) earnings per share. As a group, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

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.

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