Tower Research Capital LLC TRC Has $254,000 Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Tower Research Capital LLC TRC lifted its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 1,100.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,539 shares of the company's stock after buying an additional 4,161 shares during the quarter. Tower Research Capital LLC TRC's holdings in Rhythm Pharmaceuticals were worth $254,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in RYTM. SRS Capital Advisors Inc. boosted its stake in Rhythm Pharmaceuticals by 740.7% in the 4th 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 last quarter. Raleigh Capital Management Inc. purchased a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Rhythm Pharmaceuticals during the fourth quarter worth $37,000. R Squared Ltd acquired a new stake in Rhythm Pharmaceuticals during the 4th quarter valued at $44,000. Finally, KBC Group NV increased its stake in Rhythm Pharmaceuticals by 78.2% during the 4th 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 period.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RYTM shares. Needham & Company LLC restated a "buy" rating and set a $66.00 target price on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. HC Wainwright reiterated 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. Bank of America raised shares of 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 increased their price target on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Finally, Stifel Nicolaus started coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They issued a "buy" rating and a $78.00 price objective for the company. 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 price target of $74.92.

Insider Transactions at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 794 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $57.51, for a total value of $45,662.94. Following the transaction, the insider now directly owns 6 shares of the company's stock, valued at $345.06. This trade represents a 99.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Yann Mazabraud sold 75,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the completion of the sale, the executive vice president now owns 40,370 shares of the company's stock, valued at approximately $2,078,247.60. This trade represents a 65.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 151,733 shares of company stock valued at $8,492,699 over the last three months. Company insiders own 5.60% of the company's stock.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM stock traded down $1.70 during midday trading on Tuesday, reaching $62.71. 827,800 shares of the company were exchanged, compared to its average volume of 546,797. The company's 50 day moving average price is $56.31 and its two-hundred day moving average price is $56.77. The company has a market cap of $3.99 billion, a P/E ratio of -14.48 and a beta of 2.36. 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 posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. As a group, sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current 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.