HighVista Strategies LLC Purchases 23,064 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

HighVista Strategies LLC boosted its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 160.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,426 shares of the company’s stock after buying an additional 23,064 shares during the period. HighVista Strategies LLC owned approximately 0.06% of Rhythm Pharmaceuticals worth $1,961,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of RYTM. CWM LLC lifted its stake in shares of Rhythm Pharmaceuticals by 62.6% in the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after purchasing an additional 253 shares during the period. ORG Partners LLC bought a new position in shares of Rhythm Pharmaceuticals during the 2nd quarter worth approximately $51,000. ORG Wealth Partners LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the 3rd quarter worth approximately $63,000. Quest Partners LLC increased its stake in shares of Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after acquiring an additional 1,391 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Rhythm Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after acquiring an additional 391 shares during the period.

Insider Activity

In other news, insider Joseph Shulman sold 13,281 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $66.44, for a total transaction of $882,389.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jennifer Kayden Lee sold 66,861 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $66.33, for a total value of $4,434,890.13. Following the completion of the sale, the executive vice president now owns 972 shares in the company, valued at $64,472.76. This represents a 98.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,181 shares of company stock valued at $8,359,750 in the last three months. Company insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on RYTM. Needham & Company LLC raised their price target on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Canaccord Genuity Group restated a “buy” rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. Bank of America increased their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. JMP Securities initiated coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They set an “outperform” rating and a $64.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and set a $69.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, November 25th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $62.30.

Rhythm Pharmaceuticals Trading Down 1.9 %

Shares of Rhythm Pharmaceuticals stock opened at $60.84 on Tuesday. The business’s fifty day simple moving average is $54.44 and its 200 day simple moving average is $48.21. Rhythm Pharmaceuticals, Inc. has a 12 month low of $32.64 and a 12 month high of $68.58.

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