Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Position Trimmed by Frazier Life Sciences Management L.P.

Frazier Life Sciences Management L.P. lessened its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 22.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,869,808 shares of the company's stock after selling 547,144 shares during the period. Rhythm Pharmaceuticals makes up about 4.3% of Frazier Life Sciences Management L.P.'s portfolio, making the stock its 8th biggest position. Frazier Life Sciences Management L.P. owned approximately 3.04% of Rhythm Pharmaceuticals worth $104,672,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Voloridge Investment Management LLC grew its position in Rhythm Pharmaceuticals by 7.7% during the 4th quarter. Voloridge Investment Management LLC now owns 380,537 shares of the company's stock worth $21,302,000 after purchasing an additional 27,214 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Rhythm Pharmaceuticals by 2.3% in the 4th quarter. Two Sigma Advisers LP now owns 13,100 shares of the company's stock valued at $733,000 after acquiring an additional 300 shares during the last quarter. State of Wyoming purchased a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $61,000. Stempoint Capital LP boosted its holdings in shares of Rhythm Pharmaceuticals by 404.1% in the 4th quarter. Stempoint Capital LP now owns 208,016 shares of the company's stock valued at $11,645,000 after acquiring an additional 166,748 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 31.3% in the 4th quarter. ProShare Advisors LLC now owns 18,328 shares of the company's stock valued at $1,026,000 after acquiring an additional 4,370 shares during the last quarter.

Rhythm Pharmaceuticals Price Performance

RYTM opened at $63.87 on Wednesday. The firm has a fifty day moving average price of $58.20 and a 200 day moving average price of $57.57. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The stock has a market cap of $4.06 billion, a P/E ratio of -14.75 and a beta of 2.36.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted 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 analyst estimates of $40.43 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business's revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.35) earnings per share. Equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Insider Activity

In related news, 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 completion of the sale, the executive vice president now owns 40,370 shares of the company's stock, valued at approximately $2,078,247.60. This represents a 65.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Pamela J. Cramer sold 7,031 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $65.09, for a total transaction of $457,647.79. Following the completion of the sale, the insider now directly owns 19,209 shares of the company's stock, valued at $1,250,313.81. This represents a 26.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,630 shares of company stock worth $7,107,346 over the last three months. Insiders own 6.10% of the company's stock.

Analysts Set New Price Targets

RYTM has been the topic of several recent research reports. Canaccord Genuity Group upped their price objective on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Stifel Nicolaus initiated coverage on shares of Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price objective (up from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Bank of America raised shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price objective on the stock in a report on Monday, April 7th. Finally, Needham & Company LLC upped their price objective 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. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $75.38.

Rhythm Pharmaceuticals 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.

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