Crestline Management LP Raises Stock Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Crestline Management LP boosted its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 31.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,062 shares of the company's stock after acquiring an additional 6,064 shares during the period. Crestline Management LP's holdings in Rhythm Pharmaceuticals were worth $1,403,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of RYTM. Bridgefront Capital LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth approximately $258,000. Balyasny Asset Management L.P. bought a new position in Rhythm Pharmaceuticals during the fourth quarter worth about $7,746,000. Bellevue Group AG lifted its stake in Rhythm Pharmaceuticals by 50.3% in the fourth quarter. Bellevue Group AG now owns 23,596 shares of the company's stock valued at $1,321,000 after buying an additional 7,896 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Rhythm Pharmaceuticals by 491.0% during the 4th quarter. BNP Paribas Financial Markets now owns 85,249 shares of the company's stock worth $4,772,000 after acquiring an additional 70,824 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Rhythm Pharmaceuticals by 27.4% in the fourth quarter. Ameriprise Financial Inc. now owns 53,367 shares of the company's stock valued at $2,987,000 after purchasing an additional 11,480 shares in the last quarter.

Rhythm Pharmaceuticals Trading Up 2.8%

NASDAQ RYTM traded up $1.59 during trading on Monday, hitting $58.97. The company had a trading volume of 561,969 shares, compared to its average volume of 548,194. The company's fifty day moving average is $56.95 and its 200-day moving average is $57.10. The company has a market cap of $3.75 billion, a price-to-earnings ratio of -13.62 and a beta of 2.36. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58.

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

Analyst Upgrades and Downgrades

RYTM has been the subject of several analyst reports. Needham & Company LLC lifted their price objective on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Canaccord Genuity Group upped their price objective on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. Wells Fargo & Company lifted their price target 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 began coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They set a "buy" rating and a $78.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating and issued a $80.00 target price (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $75.38.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 635 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 in the company, valued at $118,445.40. This trade represents a 23.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph Shulman sold 794 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $57.51, for a total transaction of $45,662.94. Following the completion of the sale, the insider now owns 6 shares in the company, valued at approximately $345.06. This trade represents a 99.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,544 shares of company stock valued at $8,245,925 over the last 90 days. Company insiders own 5.60% of the company's stock.

About Rhythm Pharmaceuticals

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.