Vanguard Group Inc. Has $69.11 Million Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Vanguard Group Inc. boosted its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,014,568 shares of the company's stock after purchasing an additional 85,139 shares during the quarter. Vanguard Group Inc. owned about 5.10% of Rhythm Pharmaceuticals worth $69,109,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Rhythm Pharmaceuticals by 1,145.9% during the 3rd quarter. State Street Corp now owns 3,127,905 shares of the company's stock valued at $76,634,000 after acquiring an additional 2,876,846 shares during the last quarter. BlackRock Inc. increased its stake in shares of Rhythm Pharmaceuticals by 65.7% during the 2nd quarter. BlackRock Inc. now owns 6,265,005 shares of the company's stock valued at $103,310,000 after acquiring an additional 2,484,406 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Rhythm Pharmaceuticals by 80.7% during the 1st quarter. Federated Hermes Inc. now owns 5,065,113 shares of the company's stock valued at $58,350,000 after acquiring an additional 2,261,778 shares during the last quarter. Braidwell LP acquired a new position in shares of Rhythm Pharmaceuticals during the 2nd quarter valued at about $13,903,000. Finally, Geode Capital Management LLC increased its stake in shares of Rhythm Pharmaceuticals by 105.9% during the 2nd quarter. Geode Capital Management LLC now owns 973,350 shares of the company's stock valued at $16,051,000 after acquiring an additional 500,589 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Thursday, February 22nd. The Goldman Sachs Group boosted their target price on Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Morgan Stanley upgraded Rhythm Pharmaceuticals from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $29.00 to $55.00 in a report on Tuesday, December 19th. Finally, Wells Fargo & Company boosted their target price on Rhythm Pharmaceuticals from $48.00 to $53.00 and gave the stock an "overweight" rating in a report on Tuesday, December 19th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $47.40.

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM traded up $0.44 on Friday, reaching $40.54. The company had a trading volume of 465,752 shares, compared to its average volume of 581,446. The firm has a market capitalization of $2.44 billion, a PE ratio of -12.67 and a beta of 1.90. Rhythm Pharmaceuticals, Inc. has a 1 year low of $15.50 and a 1 year high of $52.57. The firm has a 50-day moving average of $43.99 and a 200-day moving average of $37.21.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.70) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.70). The firm had revenue of $24.23 million during the quarter, compared to analysts' expectations of $25.38 million. Rhythm Pharmaceuticals had a negative return on equity of 96.02% and a negative net margin of 238.50%. Rhythm Pharmaceuticals's quarterly revenue was up 175.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.75) EPS. As a group, sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 18,235 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $40.34, for a total value of $735,599.90. Following the completion of the transaction, the insider now owns 30 shares in the company, valued at approximately $1,210.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Joseph Shulman sold 18,235 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $40.34, for a total transaction of $735,599.90. Following the completion of the transaction, the insider now directly owns 30 shares in the company, valued at approximately $1,210.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Yann Mazabraud sold 1,594 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $51.38, for a total value of $81,899.72. Following the transaction, the executive vice president now owns 7,702 shares of the company's stock, valued at $395,728.76. The disclosure for this sale can be found here. Insiders sold a total of 172,069 shares of company stock worth $7,626,355 in the last 90 days. 4.70% of the stock is owned by company 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.