Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Acquired by Hood River Capital Management LLC

Hood River Capital Management LLC lifted its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 4.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 643,691 shares of the company's stock after acquiring an additional 29,093 shares during the period. Hood River Capital Management LLC owned 1.05% of Rhythm Pharmaceuticals worth $36,034,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC lifted its position in shares of Rhythm Pharmaceuticals by 79.6% during the 3rd quarter. Barclays PLC now owns 106,397 shares of the company's stock worth $5,574,000 after buying an additional 47,166 shares during the last quarter. Franklin Resources Inc. boosted its stake in Rhythm Pharmaceuticals by 11.5% in the third quarter. Franklin Resources Inc. now owns 259,416 shares of the company's stock valued at $13,033,000 after acquiring an additional 26,739 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Rhythm Pharmaceuticals by 241.9% in the third quarter. Principal Financial Group Inc. now owns 32,586 shares of the company's stock valued at $1,707,000 after acquiring an additional 23,054 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in shares of Rhythm Pharmaceuticals during the fourth quarter worth about $28,000. Finally, KBC Group NV increased its position in shares of Rhythm Pharmaceuticals by 78.2% during the fourth quarter. KBC Group NV now owns 2,251 shares of the company's stock worth $126,000 after purchasing an additional 988 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price target (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Stifel Nicolaus initiated 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 on the stock. Jefferies Financial Group began coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a "buy" rating and a $80.00 price target for the company. 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 research report on Monday, April 7th. Finally, Canaccord Genuity Group increased their target price on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $74.92.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock traded down $0.01 during midday trading on Monday, reaching $63.75. The company's stock had a trading volume of 170,802 shares, compared to its average volume of 550,285. The firm has a market capitalization of $4.03 billion, a PE ratio of -14.72 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The stock's 50 day simple moving average is $55.19 and its 200 day simple moving average is $56.19.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million. Equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 17,750 shares of the company's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $60.99, for a total value of $1,082,572.50. Following the sale, the executive vice president now owns 22,620 shares of the company's stock, valued at $1,379,593.80. This represents a 43.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pamela J. Cramer sold 20,760 shares of the business's stock in a transaction on 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 completion of the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,641 shares of company stock worth $8,112,177. 5.60% of the stock is owned by corporate insiders.

Rhythm Pharmaceuticals Company 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.