Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 23.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,969 shares of the company's stock after purchasing an additional 11,266 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.10% of Rhythm Pharmaceuticals worth $3,357,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. First Trust Advisors LP grew its position in shares of Rhythm Pharmaceuticals by 67.2% in the 4th quarter. First Trust Advisors LP now owns 118,337 shares of the company's stock valued at $6,625,000 after buying an additional 47,575 shares during the last quarter. Barclays PLC boosted its position in shares of Rhythm Pharmaceuticals by 79.6% during the third quarter. Barclays PLC now owns 106,397 shares of the company's stock valued at $5,574,000 after buying an additional 47,166 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth approximately $521,000. KBC Group NV increased its holdings in Rhythm Pharmaceuticals by 78.2% during the fourth quarter. KBC Group NV now owns 2,251 shares of the company's stock worth $126,000 after buying an additional 988 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Rhythm Pharmaceuticals in the 4th quarter worth about $37,000.

Insider Transactions at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 7,031 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $65.09, for a total value of $457,647.79. Following the completion of the transaction, the insider now directly owns 19,209 shares of the company's stock, valued at $1,250,313.81. The trade was a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $36,334.70. Following the sale, the chief accounting officer now owns 2,070 shares of the company's stock, valued at approximately $118,445.40. This represents a 23.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,639 shares of company stock valued at $8,023,381 in the last 90 days. 5.60% of the stock is currently owned by insiders.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM traded up $2.80 during trading on Thursday, reaching $60.08. The company had a trading volume of 184,651 shares, compared to its average volume of 549,472. The stock's fifty day moving average price is $57.30 and its 200 day moving average price is $57.17. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of -13.88 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 analysts' consensus estimates of ($0.69) by ($0.12). The business had revenue of $37.72 million during the quarter, compared to analysts' expectations of $40.43 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm's quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.35) earnings per share. On average, equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on RYTM. Bank of America upgraded shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price objective for the company in a research report on Monday, April 7th. Morgan Stanley restated an "overweight" rating and issued a $72.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, March 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 note on Wednesday, May 7th. HC Wainwright reiterated a "buy" rating and set a $80.00 price objective (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Finally, 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. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $75.38.

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.