JPMorgan Chase & Co. Acquires 182,993 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

JPMorgan Chase & Co. increased its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 224.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,585 shares of the company's stock after buying an additional 182,993 shares during the quarter. JPMorgan Chase & Co. owned about 0.43% of Rhythm Pharmaceuticals worth $14,811,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Rhythm Pharmaceuticals by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company's stock valued at $65,824,000 after purchasing an additional 3,499 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company's stock valued at $24,645,000 after buying an additional 6,384 shares in the last quarter. Franklin Resources Inc. lifted its position 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 valued at $13,033,000 after acquiring an additional 26,739 shares during the last quarter. Barclays PLC boosted 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 acquiring an additional 47,166 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Rhythm Pharmaceuticals by 1.0% in the 4th quarter. Swiss National Bank now owns 90,200 shares of the company's stock worth $5,049,000 after acquiring an additional 900 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on RYTM. HC Wainwright reissued a "buy" rating and issued a $80.00 price target (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Stifel Nicolaus started coverage on shares of Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They set a "buy" rating and a $78.00 price target on the stock. Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an "outperform" rating and a $76.00 price objective for the company. Wells Fargo & Company raised their target price on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Finally, JMP Securities reissued a "market outperform" rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Thirteen equities research 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 $74.92.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock traded down $0.24 during trading on Thursday, reaching $61.11. The company had a trading volume of 46,563 shares, compared to its average volume of 620,315. The company has a market capitalization of $3.86 billion, a PE ratio of -14.11 and a beta of 2.32. The firm's 50 day simple moving average is $54.64 and its two-hundred day simple moving average is $55.52. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million. Analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, insider Pamela J. Cramer sold 20,760 shares of the business's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $60.14, for a total transaction of $1,248,506.40. Following the transaction, the insider now directly owns 19,209 shares in the company, valued at $1,155,229.26. The trade was a 51.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Yann Mazabraud sold 17,750 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $60.99, for a total value of $1,082,572.50. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 146,641 shares of company stock valued at $8,112,177 in the last 90 days. 5.60% of the stock is currently owned by insiders.

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.