Voloridge Investment Management LLC Has $21.30 Million Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Voloridge Investment Management LLC raised its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 380,537 shares of the company's stock after buying an additional 27,214 shares during the period. Voloridge Investment Management LLC owned about 0.62% of Rhythm Pharmaceuticals worth $21,302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of RYTM. Janus Henderson Group PLC increased 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 buying an additional 621,432 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of 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 purchasing an additional 286,188 shares in the last quarter. Norges Bank acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $11,512,000. JPMorgan Chase & Co. increased its holdings in shares of 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 purchasing an additional 182,993 shares in the last quarter. Finally, Stempoint Capital LP increased its holdings in shares of 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 purchasing an additional 166,748 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RYTM. Canaccord Genuity Group raised their price target 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. Bank of America raised shares of 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. Wells Fargo & Company raised their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. Stifel Nicolaus assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price objective on the stock. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rhythm Pharmaceuticals has an average rating of "Buy" and an average target price of $75.38.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 20,760 shares of the business's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $60.14, for a total transaction of $1,248,506.40. Following the transaction, the insider now directly owns 19,209 shares in the company, valued at $1,155,229.26. The trade was a 51.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Yann Mazabraud sold 75,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the transaction, the executive vice president now owns 40,370 shares in the company, valued at $2,078,247.60. This represents a 65.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,630 shares of company stock worth $7,107,346. Insiders own 6.10% of the company's stock.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ RYTM traded up $0.54 during midday trading on Wednesday, reaching $59.72. 86,051 shares of the stock were exchanged, compared to its average volume of 553,853. The business has a 50-day simple moving average of $59.07 and a two-hundred day simple moving average of $57.60. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of -13.81 and a beta of 2.36. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $37.72 million for the quarter, compared to the consensus estimate of $40.43 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.35) earnings per share. Equities research 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.