Silverarc Capital Management LLC Has $15.33 Million Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Silverarc Capital Management LLC lifted its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 273,896 shares of the company's stock after purchasing an additional 18,318 shares during the quarter. Rhythm Pharmaceuticals comprises 3.4% of Silverarc Capital Management LLC's portfolio, making the stock its 11th largest position. Silverarc Capital Management LLC owned approximately 0.45% of Rhythm Pharmaceuticals worth $15,333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in RYTM. Barclays PLC grew its position in Rhythm Pharmaceuticals by 79.6% in the 3rd quarter. Barclays PLC now owns 106,397 shares of the company's stock worth $5,574,000 after purchasing an additional 47,166 shares during the last quarter. Franklin Resources Inc. increased its position in Rhythm Pharmaceuticals by 11.5% in the 3rd 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 period. Principal Financial Group Inc. raised its stake in Rhythm Pharmaceuticals by 241.9% during 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 in the last quarter. Raleigh Capital Management Inc. acquired a new position in Rhythm Pharmaceuticals during the 4th quarter worth $28,000. Finally, KBC Group NV grew its stake in shares of Rhythm Pharmaceuticals by 78.2% in the fourth quarter. KBC Group NV now owns 2,251 shares of the company's stock worth $126,000 after purchasing an additional 988 shares in the last quarter.

Rhythm Pharmaceuticals Stock Performance

RYTM traded up $0.79 during trading on Friday, reaching $63.76. The company had a trading volume of 451,624 shares, compared to its average volume of 551,759. The firm's 50-day simple moving average is $55.19 and its 200 day simple moving average is $56.08. The company has a market cap of $4.03 billion, a price-to-earnings ratio of -14.73 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its 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 firm 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, sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Insiders Place Their Bets

In other news, insider Joseph Shulman sold 1,281 shares of the company's 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. This represents a 32.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher Paul German sold 635 shares of the 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 sale, the chief accounting officer now directly owns 2,070 shares of the company's stock, 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. In the last three months, insiders have sold 146,641 shares of company stock worth $8,112,177. Corporate insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group began coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a "buy" rating and a $80.00 price objective on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $72.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Canaccord Genuity Group boosted their target price on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They set a "buy" rating and a $78.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an "overweight" rating in a research report on Monday, April 7th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, Rhythm Pharmaceuticals currently has an average rating of "Buy" and a consensus price target of $74.92.

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.