ProShare Advisors LLC Grows Stock Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

ProShare Advisors LLC increased its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 31.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,328 shares of the company's stock after buying an additional 4,370 shares during the period. ProShare Advisors LLC's holdings in Rhythm Pharmaceuticals were worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its holdings in 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 buying an additional 621,432 shares in the last quarter. Marshall Wace LLP raised its position in Rhythm Pharmaceuticals by 70.4% during the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company's stock worth $38,783,000 after acquiring an additional 286,188 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 worth $38,355,000 after acquiring an additional 134,622 shares during the last quarter. Hood River Capital Management LLC raised its position in Rhythm Pharmaceuticals by 4.7% during the fourth quarter. Hood River Capital Management LLC now owns 643,691 shares of the company's stock worth $36,034,000 after acquiring an additional 29,093 shares during the last quarter. Finally, Northern Trust Corp raised its position in Rhythm Pharmaceuticals by 9.4% during the fourth quarter. Northern Trust Corp now owns 545,314 shares of the company's stock worth $30,527,000 after acquiring an additional 46,848 shares during the last quarter.

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Pamela J. Cramer sold 7,031 shares of the business's 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 completion of the sale, the insider now directly owns 19,209 shares in the company, valued at approximately $1,250,313.81. The trade was a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yann Mazabraud sold 6,745 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $65.08, for a total transaction of $438,964.60. Following the completion of the sale, the executive vice president now owns 37,655 shares of the company's stock, valued at approximately $2,450,587.40. The trade was a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,630 shares of company stock worth $7,107,346. 6.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on RYTM. Stifel Nicolaus began coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They set a "buy" rating and a $78.00 target price for the company. Morgan Stanley restated an "overweight" rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. HC Wainwright restated a "buy" rating and set a $80.00 target price (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Bank of America upgraded shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price for the company in a research report on Monday, April 7th. Finally, Canaccord Genuity Group boosted their price objective 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, Based on data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $75.38.

Rhythm Pharmaceuticals Price Performance

NASDAQ:RYTM opened at $62.01 on Friday. The firm has a 50 day simple moving average of $58.63 and a 200-day simple moving average of $57.66. The firm has a market cap of $3.95 billion, a PE ratio of -14.32 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.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.81) earnings per share (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 company had revenue of $37.72 million during the quarter, compared to analysts' expectations of $40.43 million. During the same quarter in the previous year, the firm posted ($2.35) earnings per share. Rhythm Pharmaceuticals's revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, sell-side analysts expect 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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