Tudor Investment Corp ET AL Invests $853,000 in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Tudor Investment Corp ET AL bought a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 15,245 shares of the company's stock, valued at approximately $853,000.

Several other large investors have also added to or reduced their stakes in RYTM. Marshall Wace LLP boosted its holdings in Rhythm Pharmaceuticals by 70.4% during the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company's stock worth $38,783,000 after purchasing an additional 286,188 shares during the last quarter. Norges Bank purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth approximately $11,512,000. JPMorgan Chase & Co. grew its holdings in shares of Rhythm Pharmaceuticals by 224.3% in the fourth quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company's stock valued at $14,811,000 after acquiring an additional 182,993 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter valued at approximately $8,080,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Rhythm Pharmaceuticals by 24.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 685,152 shares of the company's stock worth $38,355,000 after acquiring an additional 134,622 shares during the period.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 7,031 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $65.09, for a total value of $457,647.79. Following the completion of the transaction, the insider now directly owns 19,209 shares of the company's stock, valued at $1,250,313.81. This trade represents a 26.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $36,334.70. Following the completion of the transaction, the chief accounting officer now owns 2,070 shares of the company's stock, valued at approximately $118,445.40. This represents a 23.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 151,733 shares of company stock worth $8,492,699. Corporate insiders own 5.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RYTM shares. Wells Fargo & Company boosted their price target on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a report on Monday, April 7th. Canaccord Genuity Group boosted their target price 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. HC Wainwright restated a "buy" rating and set a $80.00 price target (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 price target on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Finally, Morgan Stanley reissued an "overweight" rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $74.92.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM opened at $62.71 on Wednesday. The stock's 50-day simple moving average is $56.31 and its two-hundred day simple moving average is $56.77. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of -14.48 and a beta of 2.36. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week 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) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The company 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%. As a group, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

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.

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