Crestline Management LP Has $1.40 Million Stock Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Crestline Management LP boosted its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 31.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,062 shares of the company's stock after buying an additional 6,064 shares during the quarter. Crestline Management LP's holdings in Rhythm Pharmaceuticals were worth $1,403,000 at the end of the most recent quarter.

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

Insider Activity at Rhythm Pharmaceuticals

In other news, EVP Yann Mazabraud sold 75,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 40,370 shares of the company's stock, valued at $2,078,247.60. This represents a 65.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pamela J. Cramer sold 7,031 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $65.09, for a total transaction of $457,647.79. Following the completion of the sale, the insider now owns 19,209 shares in the company, valued at $1,250,313.81. This trade represents a 26.79% 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 in the last quarter. Corporate insiders own 5.60% of the company's stock.

Analysts Set New Price Targets

RYTM has been the subject of a number of research analyst reports. HC Wainwright reiterated a "buy" rating and set a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Wells Fargo & Company upped their target price on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. Stifel Nicolaus initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price target on the stock. Canaccord Genuity Group boosted their price objective 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. Finally, Needham & Company LLC increased their target price on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $75.38.

Rhythm Pharmaceuticals Trading Down 0.2%

Shares of NASDAQ:RYTM traded down $0.11 during trading on Wednesday, hitting $56.68. 285,546 shares of the company's stock were exchanged, compared to its average volume of 548,260. The firm has a 50-day moving average price of $57.07 and a two-hundred day moving average price of $57.17. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The firm has a market cap of $3.61 billion, a P/E ratio of -13.09 and a beta of 2.36.

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