First Trust Advisors LP Has $6.63 Million Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

First Trust Advisors LP lifted its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 67.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 118,337 shares of the company’s stock after purchasing an additional 47,575 shares during the quarter. First Trust Advisors LP’s holdings in Rhythm Pharmaceuticals were worth $6,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Farringdon Capital Ltd. bought a new position in Rhythm Pharmaceuticals during the fourth quarter worth $384,000. Marshall Wace LLP boosted its holdings in shares of Rhythm Pharmaceuticals by 70.4% during the 4th quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock worth $38,783,000 after buying an additional 286,188 shares during the period. EAM Global Investors LLC acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $3,187,000. EAM Investors LLC bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $3,531,000. Finally, Walleye Capital LLC acquired a new stake in Rhythm Pharmaceuticals during the fourth quarter worth approximately $8,080,000.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock opened at $65.22 on Wednesday. The stock has a fifty day moving average of $55.32 and a 200-day moving average of $56.30. The stock has a market capitalization of $4.12 billion, a P/E ratio of -15.06 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.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its 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). The company had revenue of $41.83 million during the quarter, compared to the consensus estimate of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. On average, research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, CFO Hunter C. Smith sold 1,678 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $99,723.54. Following the sale, the chief financial officer now owns 101,186 shares of the company’s stock, valued at $6,013,483.98. This trade represents a 1.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph Shulman sold 1,281 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $76,129.83. Following the sale, the insider now owns 2,657 shares in the company, valued at $157,905.51. This represents a 32.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,641 shares of company stock worth $8,112,177 over the last quarter. Corporate insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RYTM shares. Morgan Stanley reiterated an “overweight” rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. HC Wainwright reissued a “buy” rating and set a $80.00 target price (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Canaccord Genuity Group upped their price target on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, April 8th. Bank of America upgraded shares of Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Monday, April 7th. Finally, Jefferies Financial Group assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 target price on the stock. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price 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.