SG Americas Securities LLC Purchases Shares of 19,667 Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

SG Americas Securities LLC purchased a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 19,667 shares of the company's stock, valued at approximately $1,042,000.

Several other hedge funds have also recently modified their holdings of RYTM. Janus Henderson Group PLC lifted its holdings 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 period. Marshall Wace LLP lifted its holdings in Rhythm Pharmaceuticals by 70.4% in the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company's stock valued at $38,783,000 after acquiring an additional 286,188 shares during the period. Norges Bank acquired a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at $11,512,000. JPMorgan Chase & Co. lifted its holdings in Rhythm Pharmaceuticals by 224.3% in the fourth quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company's stock valued at $14,811,000 after acquiring an additional 182,993 shares during the period. Finally, Stempoint Capital LP lifted its holdings in Rhythm Pharmaceuticals by 404.1% in the fourth 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 period.

Rhythm Pharmaceuticals Trading Down 0.8%

Shares of NASDAQ:RYTM traded down $0.49 during midday trading on Thursday, hitting $61.48. 622,915 shares of the stock were exchanged, compared to its average volume of 556,592. The stock has a market cap of $3.91 billion, a P/E ratio of -21.88 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a twelve month low of $39.46 and a twelve month high of $69.89. The company has a 50 day moving average price of $62.30 and a 200-day moving average price of $57.97.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) EPS 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 analysts' expectations of $40.43 million. Rhythm Pharmaceuticals had a negative return on equity of 739.62% and a negative net margin of 123.26%. The company's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.35) EPS. On average, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Stifel Nicolaus raised their target price on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Canaccord Genuity Group raised their target price on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Morgan Stanley reissued an "overweight" rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Wells Fargo & Company raised their target price on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a report on Monday, April 7th. Finally, Bank of America raised Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price for the company in a report on Monday, April 7th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, Rhythm Pharmaceuticals has a consensus rating of "Buy" and an average target price of $76.62.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 2,069 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $67.19, for a total value of $139,016.11. Following the completion of the sale, the chief accounting officer now owns 1,889 shares in the company, valued at $126,921.91. The trade was a 52.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Pamela J. Cramer sold 20,760 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $60.14, for a total value of $1,248,506.40. Following the completion of the sale, the insider now owns 19,209 shares of the company's stock, valued at $1,155,229.26. This trade represents a 51.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,730 shares of company stock worth $3,863,822. 6.10% of the stock is owned by corporate insiders.

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.