Integral Health Asset Management LLC Acquires Shares of 150,000 Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Integral Health Asset Management LLC acquired a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 150,000 shares of the company's stock, valued at approximately $8,397,000. Integral Health Asset Management LLC owned about 0.24% of Rhythm Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RYTM. Barclays PLC lifted its stake 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 purchasing an additional 47,166 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Rhythm Pharmaceuticals by 11.5% during the 3rd quarter. Franklin Resources Inc. now owns 259,416 shares of the company's stock worth $13,033,000 after purchasing an additional 26,739 shares during the last quarter. Raleigh Capital Management Inc. purchased a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at about $28,000. KBC Group NV raised its stake in Rhythm Pharmaceuticals by 78.2% in the fourth quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after buying an additional 988 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at about $44,000.

Rhythm Pharmaceuticals Trading Up 0.9%

Shares of RYTM stock traded up $0.49 during mid-day trading on Wednesday, reaching $57.28. The stock had a trading volume of 666,729 shares, compared to its average volume of 550,767. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -13.23 and a beta of 2.36. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The business's fifty day moving average is $57.30 and its 200-day moving average is $57.17.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate 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 firm's revenue was up 25.9% on a year-over-year basis. During the same period last year, the business earned ($2.35) earnings per share. On average, analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Joseph Shulman sold 1,228 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $70,266.16. Following the sale, the insider now directly owns 8,509 shares of the company's stock, valued at $486,884.98. This trade represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Yann Mazabraud sold 6,745 shares of the firm's 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 sale, the executive vice president now directly owns 37,655 shares in the company, valued at approximately $2,450,587.40. This trade represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,639 shares of company stock valued at $8,023,381 over the last ninety days. Company insiders own 5.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Needham & Company LLC increased their price target on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. HC Wainwright reiterated a "buy" rating and issued a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price target for the company. Bank of America upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target for the company in a research note on Monday, April 7th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $72.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $75.38.

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.