Xponance Inc. Acquires Shares of 4,168 Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Xponance Inc. acquired a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,168 shares of the company’s stock, valued at approximately $233,000.

Other hedge funds have also added to or reduced their stakes in the company. Cibc World Markets Corp acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter worth about $287,000. Swiss National Bank lifted its stake in Rhythm Pharmaceuticals by 1.0% in the 4th quarter. Swiss National Bank now owns 90,200 shares of the company’s stock valued at $5,049,000 after purchasing an additional 900 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $341,000. Freestone Capital Holdings LLC bought a new position in Rhythm Pharmaceuticals in the fourth quarter valued at about $207,000. Finally, Raymond James Financial Inc. bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at approximately $218,000.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Oppenheimer started coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 target price for the company. Stifel Nicolaus started coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They set a “buy” rating and a $78.00 target price on the stock. Jefferies Financial Group initiated coverage on Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price target on the stock. Canaccord Genuity Group raised their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Morgan Stanley restated an “overweight” rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.46.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, CFO Hunter C. Smith sold 1,678 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $99,723.54. Following the completion of the sale, the chief financial officer now owns 101,186 shares of the company’s stock, valued at approximately $6,013,483.98. This trade represents a 1.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher Paul German sold 635 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70. Following the sale, the chief accounting officer now directly 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. Insiders have sold a total of 108,131 shares of company stock worth $5,781,098 over the last ninety days. 5.60% of the stock is currently owned by company insiders.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM stock opened at $54.80 on Friday. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58. The firm’s 50-day simple moving average is $55.25 and its two-hundred day simple moving average is $55.03. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -12.66 and a beta of 2.30.

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