Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Bought by Bellevue Group AG

Bellevue Group AG raised its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 20.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,700 shares of the company’s stock after purchasing an additional 2,700 shares during the quarter. Bellevue Group AG’s holdings in Rhythm Pharmaceuticals were worth $823,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Alkeon Capital Management LLC boosted its position in Rhythm Pharmaceuticals by 16.8% in the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock valued at $61,176,000 after buying an additional 167,700 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Rhythm Pharmaceuticals by 14.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock valued at $58,208,000 after acquiring an additional 143,800 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Rhythm Pharmaceuticals by 307.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company’s stock valued at $756,000 after acquiring an additional 10,882 shares during the last quarter. FMR LLC increased its stake in shares of Rhythm Pharmaceuticals by 79.7% in the third quarter. FMR LLC now owns 50,295 shares of the company’s stock worth $2,635,000 after acquiring an additional 22,306 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Rhythm Pharmaceuticals during the third quarter worth $33,353,000.

Analysts Set New Price Targets

Several research firms have commented on RYTM. HC Wainwright reaffirmed a “buy” rating and issued a $69.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, November 25th. JMP Securities initiated coverage on Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 target price on the stock. Guggenheim initiated coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $70.00 price target for the company. Needham & Company LLC boosted their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, TD Cowen raised their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.30.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 4,099 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $50.03, for a total value of $205,072.97. Following the transaction, the insider now owns 13,500 shares in the company, valued at approximately $675,405. This trade represents a 23.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jennifer Kayden Lee sold 66,861 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the sale, the executive vice president now directly owns 972 shares of the company’s stock, valued at $64,472.76. The trade was a 98.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 138,181 shares of company stock worth $8,359,750 in the last 90 days. Insiders own 5.60% of the company’s stock.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock opened at $62.04 on Monday. Rhythm Pharmaceuticals, Inc. has a 1-year low of $32.22 and a 1-year high of $68.58. The company has a market cap of $3.81 billion, a price-to-earnings ratio of -14.33 and a beta of 2.09. The stock has a 50 day simple moving average of $54.24 and a 200-day simple moving average of $48.05.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. During the same period in the prior year, the business posted ($0.76) earnings per share. The firm’s revenue for the quarter was up 47.6% on a year-over-year basis. Analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.36 earnings per share for the current fiscal 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.