GAMMA Investing LLC Has $788,000 Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

GAMMA Investing LLC boosted its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 7,305.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 14,885 shares of the company's stock after purchasing an additional 14,684 shares during the period. GAMMA Investing LLC's holdings in Rhythm Pharmaceuticals were worth $788,000 as of its most recent filing with the SEC.

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

Insider Activity at Rhythm Pharmaceuticals

In related news, CAO Christopher Paul German sold 2,069 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on 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 of the company's stock, valued at $126,921.91. This trade represents a 52.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Pamela J. Cramer sold 7,031 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $68.05, for a total transaction of $478,459.55. Following the completion of the transaction, the insider now directly owns 19,209 shares in the company, valued at $1,307,172.45. This trade represents a 26.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,386 shares of company stock valued at $3,845,167 over the last three months. 6.10% of the stock is owned by insiders.

Rhythm Pharmaceuticals Stock Up 0.8%

Shares of RYTM traded up $0.51 during mid-day trading on Friday, hitting $61.99. 719,497 shares of the company's stock were exchanged, compared to its average volume of 551,150. Rhythm Pharmaceuticals, Inc. has a 52 week low of $39.46 and a 52 week high of $69.89. The stock's 50-day simple moving average is $62.34 and its 200-day simple moving average is $57.97. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -22.06 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its earnings results 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 return on equity of 739.62% and a negative net margin of 123.26%. The business had revenue of $37.72 million for the quarter, compared to the consensus estimate of $40.43 million. During the same period in the prior year, the business posted ($2.35) earnings per share. The firm's revenue for the quarter was up 25.9% compared to the same quarter last year. Analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Needham & Company LLC increased their price target 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. 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 raised shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target on the stock in a report on Monday, April 7th. HC Wainwright reissued a "buy" rating and issued a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $72.00 price target on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price 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.