Orbimed Advisors LLC Lowers Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Orbimed Advisors LLC lowered its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 400,000 shares of the company's stock after selling 35,900 shares during the period. Orbimed Advisors LLC owned about 0.65% of Rhythm Pharmaceuticals worth $22,392,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. First Trust Advisors LP raised its position in shares of Rhythm Pharmaceuticals by 67.2% in the fourth quarter. First Trust Advisors LP now owns 118,337 shares of the company's stock worth $6,625,000 after acquiring an additional 47,575 shares during the period. Barclays PLC raised its position in shares of Rhythm Pharmaceuticals by 79.6% during the 3rd quarter. Barclays PLC now owns 106,397 shares of the company's stock worth $5,574,000 after purchasing an additional 47,166 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $521,000. KBC Group NV raised its position in shares of Rhythm Pharmaceuticals by 78.2% during the 4th quarter. KBC Group NV now owns 2,251 shares of the company's stock worth $126,000 after purchasing an additional 988 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $37,000.

Rhythm Pharmaceuticals Stock Down 0.4%

Shares of Rhythm Pharmaceuticals stock traded down $0.25 during mid-day trading on Friday, hitting $59.93. The stock had a trading volume of 687,672 shares, compared to its average volume of 553,622. The firm has a 50-day moving average of $57.73 and a two-hundred day moving average of $57.37. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The firm has a market cap of $3.81 billion, a P/E ratio of -13.84 and a beta of 2.36.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm had revenue of $37.72 million during the quarter, compared to analysts' expectations of $40.43 million. During the same period last year, the company earned ($2.35) EPS. The business's quarterly revenue was up 25.9% on a year-over-year basis. Sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They set a "buy" rating and a $78.00 price target for the company. Bank of America upgraded shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target for the company in a research report on Monday, April 7th. Needham & Company LLC upped their price target on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Canaccord Genuity Group upped their price target on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. Finally, HC Wainwright restated a "buy" rating and set a $80.00 price target (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $75.38.

Insider Activity

In related news, CAO Christopher Paul German sold 635 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70. Following the completion of the transaction, the chief accounting officer now owns 2,070 shares of the company's stock, valued at approximately $118,445.40. This trade represents a 23.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Yann Mazabraud sold 75,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the transaction, the executive vice president now directly owns 40,370 shares of the company's stock, valued at $2,078,247.60. The trade was a 65.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,639 shares of company stock valued at $8,023,381 in the last 90 days. Company insiders own 6.10% of the company's stock.

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.