Janus Henderson Group PLC Acquires 621,432 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Janus Henderson Group PLC boosted its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 103.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,219,554 shares of the company's stock after acquiring an additional 621,432 shares during the period. Janus Henderson Group PLC owned 1.98% of Rhythm Pharmaceuticals worth $68,309,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of RYTM. Marshall Wace LLP increased its stake in shares of Rhythm Pharmaceuticals by 70.4% during 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. Price T Rowe Associates Inc. MD increased its position in Rhythm Pharmaceuticals by 24.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 685,152 shares of the company's stock valued at $38,355,000 after buying an additional 134,622 shares in the last quarter. Hood River Capital Management LLC increased its position in Rhythm Pharmaceuticals by 4.7% during the 4th quarter. Hood River Capital Management LLC now owns 643,691 shares of the company's stock valued at $36,034,000 after buying an additional 29,093 shares in the last quarter. Northern Trust Corp raised its stake in Rhythm Pharmaceuticals by 9.4% during the fourth quarter. Northern Trust Corp now owns 545,314 shares of the company's stock valued at $30,527,000 after buying an additional 46,848 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Rhythm Pharmaceuticals by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company's stock worth $24,645,000 after acquiring an additional 6,384 shares in the last quarter.

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM opened at $56.79 on Wednesday. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -13.12 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 price is $57.07 and its 200-day moving average price is $57.17.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its 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 during the quarter, compared to the consensus estimate of $40.43 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm's revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.35) EPS. Equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 1,228 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $70,266.16. Following the transaction, the insider now owns 8,509 shares of the company's stock, valued at $486,884.98. The trade was a 12.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Yann Mazabraud sold 75,000 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the sale, the executive vice president now owns 40,370 shares in the company, valued at $2,078,247.60. The trade was a 65.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,639 shares of company stock valued at $8,023,381. 5.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Morgan Stanley restated an "overweight" rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Stifel Nicolaus began coverage on shares of Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They issued a "buy" rating and a $78.00 target price for the company. Canaccord Genuity Group upped 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. HC Wainwright reissued 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. Finally, Bank of America upgraded shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price objective for the company in a report on Monday, April 7th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $75.38.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.