Voloridge Investment Management LLC Purchases 27,214 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Voloridge Investment Management LLC boosted its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 380,537 shares of the company’s stock after purchasing an additional 27,214 shares during the period. Voloridge Investment Management LLC owned about 0.62% of Rhythm Pharmaceuticals worth $21,302,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Two Sigma Advisers LP grew its holdings in Rhythm Pharmaceuticals by 2.3% during the 4th quarter. Two Sigma Advisers LP now owns 13,100 shares of the company’s stock valued at $733,000 after purchasing an additional 300 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after purchasing an additional 400 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in Rhythm Pharmaceuticals during the 4th quarter valued at about $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Rhythm Pharmaceuticals by 2.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,156 shares of the company’s stock valued at $1,857,000 after purchasing an additional 654 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Rhythm Pharmaceuticals during the 4th quarter valued at about $37,000.

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Pamela J. Cramer sold 7,031 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $65.09, for a total transaction of $457,647.79. Following the completion of the sale, the insider now owns 19,209 shares of the company’s stock, valued at $1,250,313.81. This represents a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Yann Mazabraud sold 6,745 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $65.08, for a total transaction of $438,964.60. Following the sale, the executive vice president now directly owns 37,655 shares of the company’s stock, valued at $2,450,587.40. The trade was a 15.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,630 shares of company stock valued at $7,107,346 over the last 90 days. Insiders own 6.10% of the company’s stock.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM opened at $62.01 on Friday. The company has a 50 day moving average price of $58.63 and a 200-day moving average price of $57.66. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The stock has a market capitalization of $3.95 billion, a PE ratio of -14.32 and a beta of 2.36.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business had revenue of $37.72 million during the quarter, compared to analysts’ expectations of $40.43 million. During the same period in the previous year, the company posted ($2.35) EPS. Rhythm Pharmaceuticals’s revenue for the quarter was up 25.9% on a year-over-year basis. Equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Wall Street Analysts Forecast Growth

RYTM has been the subject of several research reports. Stifel Nicolaus initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They issued a “buy” rating and a $78.00 price objective for the company. Needham & Company LLC boosted their price objective on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective (up from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Canaccord Genuity Group boosted their price objective on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, April 8th. Finally, Bank of America raised 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 report on Monday, April 7th. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Buy” and a consensus target price of $75.38.

Rhythm Pharmaceuticals Company 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.