Marshall Wace LLP Increases Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Marshall Wace LLP grew its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 70.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 692,803 shares of the company’s stock after acquiring an additional 286,188 shares during the period. Marshall Wace LLP’s holdings in Rhythm Pharmaceuticals were worth $38,783,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Barclays PLC raised its position in 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. Geode Capital Management LLC raised its holdings in shares of Rhythm Pharmaceuticals by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock valued at $65,824,000 after buying an additional 3,499 shares during the period. Franklin Resources Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 11.5% in the 3rd quarter. Franklin Resources Inc. now owns 259,416 shares of the company’s stock valued at $13,033,000 after buying an additional 26,739 shares during the period. Principal Financial Group Inc. lifted its stake in Rhythm Pharmaceuticals by 241.9% during the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock worth $1,707,000 after acquiring an additional 23,054 shares in the last quarter. Finally, Raleigh Capital Management Inc. purchased a new position in Rhythm Pharmaceuticals during the 4th quarter valued at about $28,000.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Canaccord Genuity Group boosted their price target on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a “buy” rating in a research note 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 report on Tuesday, April 8th. Oppenheimer started coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an “outperform” rating and a $76.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective (up from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Finally, Morgan Stanley reissued an “overweight” rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $74.92.

Rhythm Pharmaceuticals Stock Up 0.7 %

Shares of RYTM opened at $61.74 on Friday. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -14.26 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58. The stock has a 50 day moving average price of $54.70 and a 200 day moving average price of $55.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million. On average, equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, CEO David P. Meeker sold 4,278 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $254,241.54. Following the completion of the sale, the chief executive officer now owns 189,927 shares in the company, valued at approximately $11,287,361.61. The trade was a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christopher Paul German sold 635 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the transaction, the chief accounting officer now owns 2,070 shares in the company, valued at approximately $118,445.40. This trade represents a 23.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,641 shares of company stock valued at $8,112,177. 5.60% of the stock is currently owned by insiders.

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.