Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 26.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,507 shares of the company's stock after selling 28,213 shares during the quarter. Wedge Capital Management L L P NC owned about 0.13% of Rhythm Pharmaceuticals worth $3,517,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the 3rd quarter worth approximately $1,029,000. Handelsbanken Fonder AB acquired a new position in shares of Rhythm Pharmaceuticals during the third quarter worth $202,000. Allspring Global Investments Holdings LLC raised its stake in Rhythm Pharmaceuticals by 253.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,260 shares of the company's stock worth $52,000 after buying an additional 1,620 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Rhythm Pharmaceuticals by 89.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 40,146 shares of the company's stock worth $920,000 after buying an additional 18,963 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in Rhythm Pharmaceuticals by 95.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,458 shares of the company's stock worth $33,000 after buying an additional 713 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Rhythm Pharmaceuticals from $53.00 to $52.00 and set an "overweight" rating for the company in a research note on Thursday, April 18th. The Goldman Sachs Group lifted their price target on shares of Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, January 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price target on shares of Rhythm Pharmaceuticals in a research note on Wednesday, April 10th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $47.20.

Insider Buying and Selling

In related news, insider Joseph Shulman sold 18,235 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $40.34, for a total transaction of $735,599.90. Following the sale, the insider now owns 30 shares of the company's stock, valued at approximately $1,210.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Joseph Shulman sold 18,235 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $40.34, for a total transaction of $735,599.90. Following the sale, the insider now owns 30 shares of the company's stock, valued at approximately $1,210.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Yann Mazabraud sold 1,594 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $51.38, for a total transaction of $81,899.72. Following the sale, the executive vice president now directly owns 7,702 shares in the company, valued at approximately $395,728.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,069 shares of company stock valued at $7,626,355. Company insiders own 4.70% of the company's stock.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM traded down $1.56 during midday trading on Thursday, hitting $38.15. 424,399 shares of the company's stock were exchanged, compared to its average volume of 625,379. The stock has a 50 day moving average price of $42.07 and a 200-day moving average price of $38.67. The company has a market cap of $2.29 billion, a PE ratio of -12.03 and a beta of 1.90. Rhythm Pharmaceuticals, Inc. has a 12 month low of $15.50 and a 12 month high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.70) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.70). Rhythm Pharmaceuticals had a negative net margin of 238.50% and a negative return on equity of 96.02%. The company had revenue of $24.23 million for the quarter, compared to analyst estimates of $25.38 million. During the same quarter in the previous year, the firm posted ($0.75) earnings per share. The company's quarterly revenue was up 175.7% compared to the same quarter last year. On average, analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.05 EPS for the current fiscal year.

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.