Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 809.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 182,297 shares of the company's stock after buying an additional 162,247 shares during the quarter. Victory Capital Management Inc. owned about 0.31% of Rhythm Pharmaceuticals worth $8,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Polar Capital Holdings Plc lifted its stake in shares of Rhythm Pharmaceuticals by 11.1% in the 3rd quarter. Polar Capital Holdings Plc now owns 2,500,000 shares of the company's stock valued at $57,312,000 after purchasing an additional 250,000 shares during the period. Hudson Bay Capital Management LP purchased a new position in Rhythm Pharmaceuticals during the 3rd quarter valued at about $4,757,000. Clearbridge Investments LLC bought a new stake in Rhythm Pharmaceuticals during the third quarter worth about $4,191,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter worth approximately $4,058,000. Finally, FMR LLC raised its position in shares of Rhythm Pharmaceuticals by 23.8% in the 3rd quarter. FMR LLC now owns 868,474 shares of the company's stock worth $19,910,000 after purchasing an additional 166,940 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RYTM. Bank of America downgraded Rhythm Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their price target for the company from $49.00 to $42.00 in a report on Wednesday, May 8th. Canaccord Genuity Group reduced their price objective on Rhythm Pharmaceuticals from $80.00 to $79.00 and set a "buy" rating for the company in a research report on Wednesday, May 8th. Wells Fargo & Company dropped their target price on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an "overweight" rating on the stock in a research report on Thursday, April 18th. Needham & Company LLC lowered their price objective on shares of Rhythm Pharmaceuticals from $50.00 to $46.00 and set a "buy" rating on the stock in a research note on Tuesday, May 7th. Finally, The Goldman Sachs Group boosted their target price on shares of Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $54.33.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 1,089 shares of the company's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $50.01, for a total value of $54,460.89. Following the completion of the transaction, the insider now directly owns 30 shares in the company, valued at approximately $1,500.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 1,089 shares of the business's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $50.01, for a total value of $54,460.89. Following the sale, the insider now owns 30 shares in the company, valued at approximately $1,500.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David P. Meeker sold 45,494 shares of the firm's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $39.22, for a total value of $1,784,274.68. Following the transaction, the chief executive officer now owns 174,605 shares of the company's stock, valued at approximately $6,848,008.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,685 shares of company stock valued at $3,978,986. 4.70% of the stock is owned by company insiders.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM traded up $0.18 during mid-day trading on Tuesday, reaching $40.38. The stock had a trading volume of 283,269 shares, compared to its average volume of 629,837. The business has a fifty day moving average of $40.43 and a 200 day moving average of $40.46. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -8.72 and a beta of 1.94. 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 issued its earnings results on Tuesday, May 7th. The company reported ($2.35) earnings per share for the quarter, missing the consensus estimate of ($2.34) by ($0.01). Rhythm Pharmaceuticals had a negative return on equity of 179.26% and a negative net margin of 297.91%. The firm had revenue of $26.00 million during the quarter, compared to the consensus estimate of $26.90 million. During the same period in the prior year, the company posted ($0.92) EPS. The company's quarterly revenue was up 126.1% on a year-over-year basis. On average, research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.43 EPS for the current fiscal year.

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.