Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Purchased by PDT Partners LLC

PDT Partners LLC increased its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 279.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,583 shares of the company's stock after buying an additional 32,083 shares during the period. PDT Partners LLC owned about 0.07% of Rhythm Pharmaceuticals worth $2,440,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Marshall Wace LLP raised its position 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 worth $38,783,000 after acquiring an additional 286,188 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Rhythm Pharmaceuticals by 24.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 685,152 shares of the company's stock valued at $38,355,000 after purchasing an additional 134,622 shares during the last quarter. Hood River Capital Management LLC lifted its position in shares of Rhythm Pharmaceuticals by 4.7% during the fourth quarter. Hood River Capital Management LLC now owns 643,691 shares of the company's stock valued at $36,034,000 after buying an additional 29,093 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Rhythm Pharmaceuticals by 9.4% in the 4th quarter. Northern Trust Corp now owns 545,314 shares of the company's stock valued at $30,527,000 after buying an additional 46,848 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Rhythm Pharmaceuticals by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company's stock valued at $24,645,000 after buying an additional 6,384 shares in the last quarter.

Rhythm Pharmaceuticals Stock Up 0.3 %

Shares of NASDAQ:RYTM traded up $0.21 during midday trading on Friday, reaching $64.01. The company's stock had a trading volume of 475,184 shares, compared to its average volume of 549,602. The stock has a fifty day moving average of $56.09 and a 200 day moving average of $56.61. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58. The firm has a market capitalization of $4.07 billion, a PE ratio of -14.78 and a beta of 2.36.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company had revenue of $41.83 million during the quarter, compared to analysts' expectations of $38.48 million. Sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Morgan Stanley restated an "overweight" rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Needham & Company LLC reissued a "buy" rating and issued a $66.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 target price (up from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Bank of America raised Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target for the company in a report on Monday, April 7th. Finally, Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They set a "buy" rating and a $78.00 price target on the stock. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $74.92.

Insider Activity at Rhythm Pharmaceuticals

In other news, CAO Christopher Paul German sold 635 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer now owns 2,070 shares of the company's stock, valued at $118,445.40. The trade was a 23.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Hunter C. Smith sold 1,678 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $99,723.54. Following the completion of the sale, the chief financial officer now owns 101,186 shares in the company, valued at approximately $6,013,483.98. The trade was a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 160,417 shares of company stock worth $9,008,789 in the last 90 days. Corporate insiders own 5.60% 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.