GAMMA Investing LLC Acquires 14,684 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

GAMMA Investing LLC raised its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 7,305.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,885 shares of the company's stock after acquiring an additional 14,684 shares during the quarter. GAMMA Investing LLC's holdings in Rhythm Pharmaceuticals were worth $788,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RYTM. Rhumbline Advisers raised its holdings in Rhythm Pharmaceuticals by 2.5% in the 4th quarter. Rhumbline Advisers now owns 82,731 shares of the company's stock worth $4,631,000 after purchasing an additional 2,017 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in Rhythm Pharmaceuticals in the fourth quarter worth about $1,960,000. Principal Financial Group Inc. raised its stake in shares of Rhythm Pharmaceuticals by 13.2% in the fourth quarter. Principal Financial Group Inc. now owns 36,884 shares of the company's stock worth $2,065,000 after buying an additional 4,298 shares during the period. Cannon Financial Strategists Inc. purchased a new position in shares of Rhythm Pharmaceuticals during the 4th quarter valued at about $560,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Rhythm Pharmaceuticals during the 4th quarter valued at approximately $328,000.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 2,069 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $67.19, for a total value of $139,016.11. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pamela J. Cramer sold 20,760 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $60.14, for a total transaction of $1,248,506.40. Following the sale, the insider now directly owns 19,209 shares of the company's stock, valued at $1,155,229.26. This represents a 51.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,730 shares of company stock valued at $3,863,822 in the last quarter. 6.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RYTM shares. Morgan Stanley reiterated an "overweight" rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Needham & Company LLC lifted 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. Canaccord Genuity Group increased their price target on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. Stifel Nicolaus raised their price target on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Finally, 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 note on Tuesday, April 8th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rhythm Pharmaceuticals currently has a consensus rating of "Buy" and a consensus price target of $76.62.

Rhythm Pharmaceuticals Trading Down 0.8%

Shares of RYTM stock traded down $0.49 during trading hours on Wednesday, reaching $61.48. 622,915 shares of the stock were exchanged, compared to its average volume of 555,620. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of -21.88 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a 12-month low of $39.46 and a 12-month high of $69.89. The company's 50-day moving average price is $62.20 and its 200-day moving average price is $57.94.

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

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.