Invesco Ltd. Raises Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Invesco Ltd. lifted its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 302,846 shares of the company's stock after purchasing an additional 38,429 shares during the quarter. Invesco Ltd. owned about 0.49% of Rhythm Pharmaceuticals worth $16,953,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. SRS Capital Advisors Inc. boosted its stake in Rhythm Pharmaceuticals by 740.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock worth $25,000 after buying an additional 400 shares during the period. Raleigh Capital Management Inc. bought a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter worth about $28,000. SBI Securities Co. Ltd. purchased a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $37,000. R Squared Ltd bought a new position in Rhythm Pharmaceuticals during the 4th quarter valued at about $44,000. Finally, KBC Group NV grew its holdings in Rhythm Pharmaceuticals by 78.2% during the 4th quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after purchasing an additional 988 shares during the last quarter.

Rhythm Pharmaceuticals Stock Down 0.1 %

NASDAQ:RYTM traded down $0.07 during mid-day trading on Friday, reaching $62.90. The company's stock had a trading volume of 124,020 shares, compared to its average volume of 548,992. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The stock has a fifty day moving average of $55.07 and a 200-day moving average of $55.97. The firm has a market capitalization of $3.98 billion, a PE ratio of -14.56 and a beta of 2.32.

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

Analysts Set New Price Targets

RYTM has been the subject of several recent analyst reports. Bank of America upgraded 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. Wells Fargo & Company boosted their price objective on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a report on Monday, April 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Morgan Stanley reiterated an "overweight" rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Finally, HC Wainwright reissued a "buy" rating and set a $80.00 target price (up from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of "Buy" and a consensus target price of $74.92.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 1,281 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 $76,129.83. Following the transaction, the insider now owns 2,657 shares in the company, valued at $157,905.51. The trade was a 32.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Yann Mazabraud sold 17,750 shares of the stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $60.99, for a total transaction of $1,082,572.50. Following the sale, the executive vice president now directly owns 22,620 shares of the company's stock, valued at approximately $1,379,593.80. The trade was a 43.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,641 shares of company stock worth $8,112,177 over the last 90 days. Company insiders own 5.60% of the company's stock.

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.