Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by LPL Financial LLC

LPL Financial LLC decreased its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 50.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,175 shares of the company's stock after selling 4,323 shares during the quarter. LPL Financial LLC's holdings in Rhythm Pharmaceuticals were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its stake in shares of Rhythm Pharmaceuticals by 79.6% in the 3rd quarter. Barclays PLC now owns 106,397 shares of the company's stock valued at $5,574,000 after purchasing an additional 47,166 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at about $1,960,000. American Century Companies Inc. purchased a new position in Rhythm Pharmaceuticals during the fourth quarter worth about $1,890,000. Franklin Resources Inc. increased its position in shares of Rhythm Pharmaceuticals by 11.5% during the third quarter. Franklin Resources Inc. now owns 259,416 shares of the company's stock valued at $13,033,000 after acquiring an additional 26,739 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Rhythm Pharmaceuticals by 241.9% in the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company's stock valued at $1,707,000 after acquiring an additional 23,054 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RYTM shares. Morgan Stanley reaffirmed an "overweight" rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Stifel Nicolaus assumed coverage on Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They set a "buy" rating and a $78.00 target price on the stock. Bank of America raised Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price for the company in a research report on Monday, April 7th. Canaccord Genuity Group raised 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. Finally, Wells Fargo & Company upped their target price 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. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $74.92.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM traded up $0.21 during trading hours on Friday, reaching $64.01. The stock had a trading volume of 475,184 shares, compared to its average volume of 548,111. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of -14.78 and a beta of 2.36. The firm's 50 day moving average is $56.09 and its 200-day moving average is $56.64. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58.

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

Insider Buying and Selling

In other news, EVP Yann Mazabraud sold 6,745 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $65.08, for a total transaction of $438,964.60. Following the completion of the sale, the executive vice president now owns 37,655 shares in the company, valued at approximately $2,450,587.40. The trade was a 15.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher Paul German sold 635 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 2,070 shares in the company, valued at $118,445.40. This trade represents a 23.48 % 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 over the last 90 days. 5.60% of the stock is owned by insiders.

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.