Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Purchased by Silverarc Capital Management LLC

Silverarc Capital Management LLC lifted its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 7.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 273,896 shares of the company’s stock after purchasing an additional 18,318 shares during the period. Rhythm Pharmaceuticals makes up about 3.4% of Silverarc Capital Management LLC’s investment portfolio, making the stock its 11th biggest position. Silverarc Capital Management LLC’s holdings in Rhythm Pharmaceuticals were worth $15,333,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RYTM. SRS Capital Advisors Inc. increased its stake in Rhythm Pharmaceuticals by 740.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after purchasing an additional 400 shares during the period. Raleigh Capital Management Inc. acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $37,000. R Squared Ltd purchased a new position in shares of Rhythm Pharmaceuticals during the fourth quarter worth about $44,000. Finally, Swiss National Bank grew its stake in shares of 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.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 635 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70. Following the completion of the sale, the chief accounting officer now directly owns 2,070 shares in the company, valued at approximately $118,445.40. The trade was a 23.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Yann Mazabraud sold 75,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $51.48, for a total value of $3,861,000.00. Following the sale, the executive vice president now directly owns 40,370 shares of the company’s stock, valued at $2,078,247.60. This represents a 65.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,641 shares of company stock worth $8,112,177. Insiders own 5.60% of the company’s stock.

Rhythm Pharmaceuticals Stock Performance

RYTM stock opened at $60.48 on Tuesday. The company has a market cap of $3.82 billion, a P/E ratio of -13.97 and a beta of 2.32. The stock’s 50 day simple moving average is $54.84 and its 200 day simple moving average is $55.81. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58.

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 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 business had revenue of $41.83 million for the quarter, compared to the consensus estimate of $38.48 million. Equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RYTM. Morgan Stanley reissued an “overweight” rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Wells Fargo & Company lifted their price target on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an “overweight” rating in a report on Monday, April 7th. JMP Securities reiterated a “market outperform” rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock 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.