Diadema Partners LP Invests $4.20 Million in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Diadema Partners LP purchased a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 75,000 shares of the company’s stock, valued at approximately $4,198,000. Rhythm Pharmaceuticals accounts for approximately 1.8% of Diadema Partners LP’s investment portfolio, making the stock its 9th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Marshall Wace LLP increased its stake in Rhythm Pharmaceuticals by 70.4% in the 4th quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock valued at $38,783,000 after buying an additional 286,188 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Rhythm Pharmaceuticals by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company’s stock worth $24,645,000 after acquiring an additional 6,384 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Rhythm Pharmaceuticals by 14.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 375,349 shares of the company’s stock valued at $21,012,000 after purchasing an additional 46,010 shares during the last quarter. Invesco Ltd. increased its position in Rhythm Pharmaceuticals by 14.5% in the 4th quarter. Invesco Ltd. now owns 302,846 shares of the company’s stock worth $16,953,000 after purchasing an additional 38,429 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Rhythm Pharmaceuticals by 3.4% during the 4th quarter. Franklin Resources Inc. now owns 268,205 shares of the company’s stock worth $15,014,000 after purchasing an additional 8,789 shares in the last quarter.

Rhythm Pharmaceuticals Trading Down 2.0 %

Shares of NASDAQ RYTM opened at $60.48 on Tuesday. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The business has a fifty day simple moving average of $54.84 and a 200 day simple moving average of $55.81. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of -13.97 and a beta of 2.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share 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 business had revenue of $41.83 million for the quarter, compared to analyst estimates of $38.48 million. On average, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 75,000 shares of Rhythm Pharmaceuticals stock in a transaction on Friday, March 14th. The stock was sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the completion of the transaction, the executive vice president now directly owns 40,370 shares of the company’s stock, valued at approximately $2,078,247.60. This trade represents a 65.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pamela J. Cramer sold 20,760 shares of the stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $60.14, for a total transaction of $1,248,506.40. Following the sale, the insider now owns 19,209 shares of the company’s stock, valued at $1,155,229.26. This trade represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,641 shares of company stock valued at $8,112,177. Corporate insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RYTM shares. Needham & Company LLC restated a “buy” rating and set a $66.00 price target on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Canaccord Genuity Group boosted their price target on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, April 8th. Jefferies Financial Group assumed coverage on Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price objective on the stock. Bank of America raised Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Monday, April 7th. Finally, JMP Securities restated a “market outperform” rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $74.92.

About Rhythm Pharmaceuticals

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.