Mariner LLC Invests $254,000 in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Mariner LLC acquired a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,525 shares of the company's stock, valued at approximately $254,000.

A number of other institutional investors also recently bought and sold shares of the stock. SRS Capital Advisors Inc. grew its holdings in Rhythm Pharmaceuticals by 740.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock valued at $25,000 after purchasing an additional 400 shares during the period. Raleigh Capital Management Inc. bought a new position in shares of Rhythm Pharmaceuticals during the 4th quarter valued at approximately $28,000. SBI Securities Co. Ltd. bought a new position in shares of Rhythm Pharmaceuticals during the 4th quarter valued at approximately $37,000. R Squared Ltd purchased a new stake in Rhythm Pharmaceuticals in the 4th quarter worth approximately $44,000. Finally, Swiss National Bank raised its stake in Rhythm Pharmaceuticals by 1.0% during 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 period.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RYTM shares. HC Wainwright reissued a "buy" rating and issued a $80.00 price objective (up from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Needham & Company LLC reiterated a "buy" rating and issued a $66.00 price target on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Canaccord Genuity Group boosted their price objective on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Bank of America upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price for the company in a research report on Monday, April 7th. Finally, Wells Fargo & Company boosted their price target on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a report on Monday, April 7th. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $74.92.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM opened at $64.41 on Tuesday. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -14.88 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 50 day simple moving average is $56.09 and its 200-day simple moving average is $56.67.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly 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 business had revenue of $41.83 million for the quarter, compared to analysts' expectations of $38.48 million. On average, sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insider Activity

In other news, CAO Christopher Paul German sold 635 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the transaction, the chief accounting officer now owns 2,070 shares of the company's stock, valued at approximately $118,445.40. The trade was a 23.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph Shulman sold 794 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $57.51, for a total value of $45,662.94. Following the completion of the sale, the insider now owns 6 shares of the company's stock, valued at approximately $345.06. This represents a 99.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 151,733 shares of company stock worth $8,492,699. 5.60% of the stock is currently 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.

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