Voya Investment Management LLC Sells 5,663 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Voya Investment Management LLC cut its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,169 shares of the company's stock after selling 5,663 shares during the period. Voya Investment Management LLC owned 0.16% of Rhythm Pharmaceuticals worth $5,440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Marshall Wace LLP increased its position 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 buying an additional 286,188 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Rhythm Pharmaceuticals by 24.5% during the 4th 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. Hood River Capital Management LLC increased its holdings in shares of Rhythm Pharmaceuticals by 4.7% during the 4th quarter. Hood River Capital Management LLC now owns 643,691 shares of the company's stock worth $36,034,000 after acquiring an additional 29,093 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Rhythm Pharmaceuticals by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company's stock valued at $24,645,000 after acquiring an additional 6,384 shares during the period. Finally, Pictet Asset Management Holding SA lifted its holdings in Rhythm Pharmaceuticals by 14.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 375,349 shares of the company's stock valued at $21,012,000 after purchasing an additional 46,010 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RYTM shares. HC Wainwright reissued a "buy" rating and issued a $80.00 price objective (up from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Canaccord Genuity Group raised their price objective on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. Needham & Company LLC reiterated a "buy" rating and set a $66.00 target price on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Bank of America upgraded Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target for the company in a research note on Monday, April 7th. Finally, Stifel Nicolaus started coverage on Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They set a "buy" rating and a $78.00 price objective on the stock. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of "Buy" and an average price target of $74.92.

Insider Activity at Rhythm Pharmaceuticals

In related news, CAO Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pamela J. Cramer sold 7,031 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $65.09, for a total transaction of $457,647.79. Following the sale, the insider now owns 19,209 shares of the company's stock, valued at approximately $1,250,313.81. This trade represents a 26.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 160,417 shares of company stock worth $9,008,789 in the last quarter. 5.60% of the stock is owned by insiders.

Rhythm Pharmaceuticals Stock Up 0.3 %

Shares of NASDAQ:RYTM traded up $0.21 during trading on Friday, hitting $64.01. 475,184 shares of the company were exchanged, compared to its average volume of 548,111. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The company has a market capitalization of $4.07 billion, a P/E ratio of -14.78 and a beta of 2.36. The business's 50 day moving average is $56.09 and its 200-day moving average is $56.64.

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 the consensus estimate of ($0.69) by ($0.03). The firm had revenue of $41.83 million during 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 anticipate 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.