Orbimed Advisors LLC Has $22.39 Million Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Orbimed Advisors LLC decreased its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 8.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 400,000 shares of the company's stock after selling 35,900 shares during the period. Orbimed Advisors LLC owned approximately 0.65% of Rhythm Pharmaceuticals worth $22,392,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in RYTM. Janus Henderson Group PLC raised its holdings in shares of Rhythm Pharmaceuticals by 103.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company's stock worth $68,309,000 after acquiring an additional 621,432 shares during the period. Marshall Wace LLP raised its stake in shares of Rhythm Pharmaceuticals by 70.4% in the 4th quarter. Marshall Wace LLP now owns 692,803 shares of the company's stock valued at $38,783,000 after purchasing an additional 286,188 shares during the period. Norges Bank bought a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at about $11,512,000. JPMorgan Chase & Co. boosted its position in shares of Rhythm Pharmaceuticals by 224.3% during the fourth quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company's stock worth $14,811,000 after buying an additional 182,993 shares during the period. Finally, Integral Health Asset Management LLC bought a new position in shares of Rhythm Pharmaceuticals during the fourth quarter worth about $8,397,000.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals 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 transaction, the chief accounting officer now owns 2,070 shares in the company, valued at $118,445.40. This represents a 23.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Yann Mazabraud sold 75,000 shares of the firm's 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 in the company, valued at $2,078,247.60. This represents a 65.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,639 shares of company stock worth $8,023,381 over the last quarter. Company insiders own 5.60% of the company's stock.

Rhythm Pharmaceuticals Trading Down 0.4%

Shares of RYTM traded down $0.25 during mid-day trading on Friday, reaching $59.93. The company's stock had a trading volume of 687,672 shares, compared to its average volume of 554,411. The stock has a market cap of $3.81 billion, a P/E ratio of -13.84 and a beta of 2.36. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The business has a 50-day simple moving average of $57.73 and a two-hundred day simple moving average of $57.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) EPS 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 company had revenue of $37.72 million during the quarter, compared to analyst estimates of $40.43 million. During the same quarter in the prior year, the firm earned ($2.35) earnings per share. Rhythm Pharmaceuticals's revenue for the quarter was up 25.9% on a year-over-year basis. Research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on RYTM shares. Bank of America upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price on the stock in a research note on Monday, April 7th. Canaccord Genuity Group increased their target price on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. HC Wainwright reiterated a "buy" rating and issued a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Wells Fargo & Company increased their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. Finally, Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price objective for the company. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $75.38.

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.