XTX Topco Ltd Invests $426,000 in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

XTX Topco Ltd acquired a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,605 shares of the company's stock, valued at approximately $426,000.

Several other large investors also recently made changes to their positions in RYTM. Norges Bank acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $11,512,000. JPMorgan Chase & Co. lifted its holdings in Rhythm Pharmaceuticals by 224.3% during the 4th quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company's stock valued at $14,811,000 after purchasing an additional 182,993 shares during the last quarter. Cinctive Capital Management LP bought a new position in Rhythm Pharmaceuticals during the fourth quarter worth $4,633,000. Barclays PLC raised its position in shares of Rhythm Pharmaceuticals by 79.6% in the third quarter. Barclays PLC now owns 106,397 shares of the company's stock valued at $5,574,000 after purchasing an additional 47,166 shares during the period. Finally, Pictet Asset Management Holding SA lifted its stake in shares of Rhythm Pharmaceuticals by 14.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 375,349 shares of the company's stock worth $21,012,000 after buying an additional 46,010 shares during the last quarter.

Insider Transactions at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 20,760 shares of the stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $60.14, for a total value of $1,248,506.40. Following the completion of the transaction, the insider now directly owns 19,209 shares in the company, valued at approximately $1,155,229.26. This represents a 51.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Yann Mazabraud sold 17,750 shares of the firm's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $60.99, for a total value of $1,082,572.50. Following the sale, the executive vice president now directly owns 22,620 shares in the company, valued at approximately $1,379,593.80. This trade represents a 43.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,641 shares of company stock valued at $8,112,177. 5.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RYTM shares. Morgan Stanley reissued an "overweight" rating and issued a $72.00 price target on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. 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. Wells Fargo & Company increased their price objective on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Jefferies Financial Group initiated coverage on Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a "buy" rating and a $80.00 target price for the company. Finally, Canaccord Genuity Group upped their price target 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. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of "Buy" and a consensus target price of $74.92.

Rhythm Pharmaceuticals Price Performance

NASDAQ:RYTM traded up $0.79 during mid-day trading on Friday, reaching $63.76. The stock had a trading volume of 451,624 shares, compared to its average volume of 551,759. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58. The stock has a market capitalization of $4.03 billion, a PE ratio of -14.73 and a beta of 2.32. The stock has a 50-day simple moving average of $55.19 and a two-hundred day simple moving average of $56.19.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly 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). The business had revenue of $41.83 million for the quarter, compared to analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. Equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Rhythm Pharmaceuticals 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.