Virtu Financial LLC Takes Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Virtu Financial LLC purchased a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTMFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 26,501 shares of the company’s stock, valued at approximately $1,218,000.

Several other large investors also recently bought and sold shares of RYTM. Perceptive Advisors LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 465.6% during the 4th quarter. Perceptive Advisors LLC now owns 2,154,110 shares of the company’s stock worth $99,024,000 after purchasing an additional 1,773,282 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in Rhythm Pharmaceuticals during the fourth quarter worth about $12,477,000. Polar Capital Holdings Plc increased its position in shares of Rhythm Pharmaceuticals by 11.1% during the third quarter. Polar Capital Holdings Plc now owns 2,500,000 shares of the company’s stock valued at $57,312,000 after acquiring an additional 250,000 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at approximately $4,757,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at approximately $4,191,000.

Analyst Ratings Changes

Several analysts recently weighed in on RYTM shares. Wells Fargo & Company dropped their target price on shares of Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Canaccord Genuity Group cut their price objective on Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Needham & Company LLC lowered their target price on Rhythm Pharmaceuticals from $50.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Finally, Bank of America lowered shares of Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price target for the stock from $49.00 to $42.00 in a research note on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.33.

Read Our Latest Stock Analysis on Rhythm Pharmaceuticals

Insider Transactions at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 18,235 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $40.34, for a total transaction of $735,599.90. Following the sale, the insider now owns 30 shares of the company’s stock, valued at approximately $1,210.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Rhythm Pharmaceuticals news, CEO David P. Meeker sold 45,494 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $39.22, for a total transaction of $1,784,274.68. Following the transaction, the chief executive officer now owns 174,605 shares of the company’s stock, valued at $6,848,008.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph Shulman sold 18,235 shares of Rhythm Pharmaceuticals stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $40.34, for a total value of $735,599.90. Following the sale, the insider now owns 30 shares in the company, valued at approximately $1,210.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,596 shares of company stock valued at $3,924,525. 5.60% of the stock is currently owned by corporate insiders.

Rhythm Pharmaceuticals Trading Down 3.6 %

NASDAQ:RYTM traded down $1.60 during mid-day trading on Friday, hitting $42.77. The stock had a trading volume of 748,294 shares, compared to its average volume of 484,834. Rhythm Pharmaceuticals, Inc. has a twelve month low of $15.50 and a twelve month high of $52.57. The stock has a 50-day simple moving average of $39.52 and a two-hundred day simple moving average of $41.79. The company has a market capitalization of $2.61 billion, a PE ratio of -9.24 and a beta of 1.93.

Rhythm Pharmaceuticals (NASDAQ:RYTMGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($2.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.34) by ($0.01). The firm had revenue of $26.00 million during the quarter, compared to analyst estimates of $26.90 million. Rhythm Pharmaceuticals had a negative net margin of 297.91% and a negative return on equity of 179.26%. Rhythm Pharmaceuticals’s revenue for the quarter was up 126.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.92) earnings per share. Sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS for the current fiscal year.

Rhythm Pharmaceuticals Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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