Geode Capital Management LLC Purchases 12,900 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Geode Capital Management LLC raised its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,375,729 shares of the company’s stock after purchasing an additional 12,900 shares during the period. Geode Capital Management LLC owned about 2.06% of Rhythm Pharmaceuticals worth $147,283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Rhythm Pharmaceuticals by 4.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,568 shares of the company’s stock valued at $259,000 after acquiring an additional 110 shares during the period. Captrust Financial Advisors increased its holdings in shares of Rhythm Pharmaceuticals by 0.7% in the 2nd quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock valued at $1,104,000 after acquiring an additional 114 shares during the period. GAMMA Investing LLC increased its holdings in shares of Rhythm Pharmaceuticals by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after acquiring an additional 118 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Rhythm Pharmaceuticals by 97.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after acquiring an additional 141 shares during the period. Finally, Optiver Holding B.V. increased its holdings in shares of Rhythm Pharmaceuticals by 65.2% in the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock valued at $37,000 after acquiring an additional 144 shares during the period.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock opened at $87.61 on Friday. Rhythm Pharmaceuticals, Inc. has a 1-year low of $60.70 and a 1-year high of $122.20. The stock’s fifty day moving average price is $87.41 and its 200 day moving average price is $96.90. The company has a market cap of $6.00 billion, a price-to-earnings ratio of -27.99 and a beta of 1.91.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The firm had revenue of $60.11 million for the quarter, compared to the consensus estimate of $55.78 million. During the same period in the previous year, the business earned ($0.81) EPS. The firm’s revenue for the quarter was up 83.8% on a year-over-year basis. As a group, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -3.18 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RYTM shares. Telsey Advisory Group set a $143.00 price target on Rhythm Pharmaceuticals in a report on Thursday, March 12th. HC Wainwright cut their price target on Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Morgan Stanley cut their price target on Rhythm Pharmaceuticals from $150.00 to $136.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Citizens Jmp cut their price target on Rhythm Pharmaceuticals from $176.00 to $152.00 and set a “market outperform” rating on the stock in a report on Tuesday, March 17th. Finally, Guggenheim lifted their price target on Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the company a “buy” rating in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.81.

Rhythm Pharmaceuticals Profile

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.