OMERS ADMINISTRATION Corp Invests $425,000 in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

OMERS ADMINISTRATION Corp bought a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,600 shares of the company's stock, valued at approximately $425,000.

Other hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Rhythm Pharmaceuticals by 2.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,156 shares of the company's stock worth $1,857,000 after acquiring an additional 654 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Rhythm Pharmaceuticals in the fourth quarter worth $5,947,000. Integral Health Asset Management LLC bought a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth $8,397,000. Janus Henderson Group PLC lifted its position in shares of Rhythm Pharmaceuticals by 103.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company's stock worth $68,309,000 after purchasing an additional 621,432 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 1,022.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 48,198 shares of the company's stock valued at $2,698,000 after purchasing an additional 43,904 shares during the period.

Analyst Ratings Changes

Several research firms recently commented on RYTM. Needham & Company LLC raised their price target on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Bank of America upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target for the company in a report on Monday, April 7th. Morgan Stanley restated an "overweight" rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 target price (up from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Finally, Canaccord Genuity Group raised their target price on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $75.38.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock traded down $0.40 during mid-day trading on Thursday, hitting $62.01. 392,134 shares of the stock traded hands, compared to its average volume of 553,808. The stock's fifty day moving average is $58.43 and its two-hundred day moving average is $57.60. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58. The stock has a market cap of $3.95 billion, a P/E ratio of -14.32 and a beta of 2.36.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $37.72 million for the quarter, compared to analysts' expectations of $40.43 million. During the same period in the previous year, the company earned ($2.35) EPS. The company's revenue was up 25.9% on a year-over-year basis. As a group, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Insider Activity

In other news, insider Pamela J. Cramer sold 20,760 shares of the business's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $60.14, for a total transaction of $1,248,506.40. Following the sale, the insider now owns 19,209 shares in the company, valued at approximately $1,155,229.26. The trade was a 51.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Yann Mazabraud sold 6,745 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $65.08, for a total transaction of $438,964.60. Following the transaction, the executive vice president now owns 37,655 shares in the company, valued at approximately $2,450,587.40. This trade represents a 15.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,630 shares of company stock worth $7,107,346. Insiders own 6.10% of the company's stock.

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.