Lord Abbett & CO. LLC Increases Stock Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Lord Abbett & CO. LLC boosted its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 56.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 160,651 shares of the company's stock after buying an additional 58,005 shares during the period. Lord Abbett & CO. LLC owned approximately 0.26% of Rhythm Pharmaceuticals worth $8,993,000 at the end of the most recent quarter.

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

Insider Activity

In other news, CAO Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $36,334.70. Following the transaction, the chief accounting officer now directly owns 2,070 shares of the company's stock, valued at $118,445.40. The trade was a 23.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Yann Mazabraud sold 6,745 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $65.08, for a total transaction of $438,964.60. Following the sale, the executive vice president now owns 37,655 shares of the company's stock, valued at approximately $2,450,587.40. This represents a 15.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 160,417 shares of company stock valued at $9,008,789. Insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

RYTM has been the subject of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and set a $66.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Bank of America raised shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 target price on the stock in a research note on Monday, April 7th. Canaccord Genuity Group raised their price target on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. 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. Finally, Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They issued a "buy" rating and a $78.00 target price for the company. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $74.92.

Rhythm Pharmaceuticals Trading Up 0.3 %

RYTM stock traded up $0.21 during trading on Friday, hitting $64.01. 475,184 shares of the company's stock were exchanged, compared to its average volume of 548,111. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58. The business has a 50-day moving average price of $56.09 and a two-hundred day moving average price of $56.64. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of -14.78 and a beta of 2.36.

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

Rhythm Pharmaceuticals Company 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.