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Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Purchased by Perceptive Advisors LLC

Rhythm Pharmaceuticals logo with Medical background

Perceptive Advisors LLC increased its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 465.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,154,110 shares of the company's stock after buying an additional 1,773,282 shares during the period. Rhythm Pharmaceuticals comprises approximately 2.2% of Perceptive Advisors LLC's holdings, making the stock its 8th largest position. Perceptive Advisors LLC owned 3.64% of Rhythm Pharmaceuticals worth $99,024,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of RYTM. AJOVista LLC bought a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter valued at approximately $42,000. Nisa Investment Advisors LLC lifted its stake in Rhythm Pharmaceuticals by 91.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,256 shares of the company's stock worth $58,000 after purchasing an additional 600 shares in the last quarter. Quarry LP purchased a new position in shares of Rhythm Pharmaceuticals during the fourth quarter valued at about $69,000. Whittier Trust Co. purchased a new position in shares of Rhythm Pharmaceuticals during the fourth quarter valued at about $92,000. Finally, Strs Ohio bought a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $137,000.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, CEO David P. Meeker sold 45,494 shares of the company's stock in a transaction on Tuesday, March 19th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Yann Mazabraud sold 16,000 shares of the business's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $39.22, for a total value of $627,520.00. Following the completion of the sale, the executive vice president now owns 24,495 shares in the company, valued at $960,693.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 on Tuesday, March 19th. The stock was 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 in the company, valued at $6,848,008.10. The disclosure for this sale can be found here. In the last three months, insiders sold 99,596 shares of company stock valued at $3,924,525. Insiders own 5.60% of the company's stock.


Wall Street Analysts Forecast Growth

Several research firms have weighed in on RYTM. Bank of America cut Rhythm Pharmaceuticals from a "buy" rating to a "neutral" rating and cut their price target for the company from $49.00 to $42.00 in a report on Wednesday, May 8th. Canaccord Genuity Group cut their target price on shares of Rhythm Pharmaceuticals from $80.00 to $79.00 and set a "buy" rating for the company in a report on Wednesday, May 8th. Needham & Company LLC decreased their price target 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, Wells Fargo & Company lowered their price objective on shares of Rhythm Pharmaceuticals from $53.00 to $52.00 and set an "overweight" rating for the company in a research report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $54.33.

Get Our Latest Report on Rhythm Pharmaceuticals

Rhythm Pharmaceuticals Stock Performance

NASDAQ RYTM traded down $1.60 on Friday, hitting $42.77. 748,294 shares of the stock were exchanged, compared to its average volume of 484,834. Rhythm Pharmaceuticals, Inc. has a 52-week low of $15.50 and a 52-week high of $52.57. The firm has a market capitalization of $2.61 billion, a P/E ratio of -9.24 and a beta of 1.93. The stock has a fifty day moving average price of $39.52 and a two-hundred day moving average price of $41.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($2.35) EPS for the quarter, missing the consensus estimate of ($2.34) by ($0.01). Rhythm Pharmaceuticals had a negative net margin of 297.91% and a negative return on equity of 179.26%. The firm had revenue of $26.00 million for the quarter, compared to the consensus estimate of $26.90 million. During the same quarter in the previous year, the company posted ($0.92) earnings per share. The business's revenue for the quarter was up 126.1% on a year-over-year basis. Sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.44 earnings per share for the current fiscal year.

Rhythm Pharmaceuticals Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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