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

Janus Henderson Group PLC grew its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 103.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,219,554 shares of the company's stock after purchasing an additional 621,432 shares during the quarter. Janus Henderson Group PLC owned about 1.98% of Rhythm Pharmaceuticals worth $68,309,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RYTM. Barclays PLC raised its position in Rhythm Pharmaceuticals by 79.6% during the third quarter. Barclays PLC now owns 106,397 shares of the company's stock worth $5,574,000 after acquiring an additional 47,166 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $28,000. KBC Group NV lifted its stake in Rhythm Pharmaceuticals by 78.2% in the 4th quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after purchasing an additional 988 shares during the last quarter. R Squared Ltd bought a new position in Rhythm Pharmaceuticals during the fourth quarter worth about $44,000. Finally, China Universal Asset Management Co. Ltd. increased its position in Rhythm Pharmaceuticals by 10.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,031 shares of the company's stock worth $729,000 after buying an additional 1,273 shares during the last quarter.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 75,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $51.48, for a total value 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. This trade represents a 65.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Christopher Paul German sold 635 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $36,334.70. Following the completion of the transaction, the chief accounting officer now owns 2,070 shares of the company's stock, valued at $118,445.40. The trade was a 23.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,639 shares of company stock worth $8,023,381 over the last three months. Corporate insiders own 6.10% of the company's stock.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ RYTM traded up $0.99 during mid-day trading on Monday, reaching $60.92. The company had a trading volume of 179,116 shares, compared to its average volume of 552,173. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The business's 50-day simple moving average is $57.73 and its 200 day simple moving average is $57.44. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of -14.06 and a beta of 2.36.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued 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). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm had revenue of $37.72 million during the quarter, compared to analyst estimates of $40.43 million. During the same quarter in the previous year, the firm posted ($2.35) earnings per share. Rhythm Pharmaceuticals's quarterly revenue was up 25.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Wall Street Analysts Forecast Growth

RYTM has been the subject of several research analyst reports. HC Wainwright reiterated a "buy" rating and set a $80.00 target price (up from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Canaccord Genuity Group upped their price objective 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. Stifel Nicolaus assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price objective on the stock. Wells Fargo & Company increased their price target on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a report on Monday, April 7th. Finally, Morgan Stanley restated an "overweight" rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of "Buy" and a consensus target price 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.