Voloridge Investment Management LLC Purchases 27,214 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Voloridge Investment Management LLC boosted its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 380,537 shares of the company's stock after purchasing an additional 27,214 shares during the period. Voloridge Investment Management LLC owned 0.62% of Rhythm Pharmaceuticals worth $21,302,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Two Sigma Advisers LP boosted its position in shares of Rhythm Pharmaceuticals by 2.3% in the fourth quarter. Two Sigma Advisers LP now owns 13,100 shares of the company's stock worth $733,000 after buying an additional 300 shares during the period. State of Wyoming acquired a new stake in Rhythm Pharmaceuticals during the 4th quarter worth about $61,000. Stempoint Capital LP grew its stake in Rhythm Pharmaceuticals by 404.1% during 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 in the last quarter. ProShare Advisors LLC increased 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 purchasing an additional 4,370 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth approximately $425,000.

Insider Transactions at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 20,760 shares of the firm's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $60.14, for a total value of $1,248,506.40. Following the sale, the insider now directly owns 19,209 shares of the company's stock, valued at approximately $1,155,229.26. This trade represents a 51.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Yann Mazabraud sold 6,745 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $65.08, for a total value of $438,964.60. Following the completion of the transaction, the executive vice president now owns 37,655 shares in the company, valued at $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 insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Needham & Company LLC increased their target price on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Canaccord Genuity Group increased their price objective on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Wells Fargo & Company lifted their price objective on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a research report on Monday, April 7th. Bank of America upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price on the stock in a research note on Monday, April 7th. Finally, Stifel Nicolaus started coverage on Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They set a "buy" rating and a $78.00 price target for the company. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $75.38.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ RYTM traded up $0.35 during mid-day trading on Monday, reaching $62.36. 392,045 shares of the company traded hands, compared to its average volume of 555,373. The company's fifty day moving average is $58.83 and its two-hundred day moving average is $57.63. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The stock has a market cap of $3.97 billion, a PE ratio of -14.40 and a beta of 2.36.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced 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 return on equity of 367.36% and a negative net margin of 230.07%. The company had revenue of $37.72 million for the quarter, compared to the consensus estimate of $40.43 million. During the same period in the previous year, the company earned ($2.35) EPS. The firm's revenue for the quarter was up 25.9% compared to the same quarter last year. Research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current 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.