Trexquant Investment LP Buys Shares of 7,798 Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Trexquant Investment LP purchased a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 7,798 shares of the company’s stock, valued at approximately $437,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. SRS Capital Advisors Inc. lifted its position in Rhythm Pharmaceuticals by 740.7% in 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 fourth quarter valued at $28,000. SBI Securities Co. Ltd. bought a new position in Rhythm Pharmaceuticals during the fourth quarter valued at about $37,000. R Squared Ltd acquired a new position in Rhythm Pharmaceuticals during the fourth quarter worth about $44,000. Finally, KBC Group NV raised its position in Rhythm Pharmaceuticals by 78.2% in the fourth quarter. KBC Group NV now owns 2,251 shares of the company’s stock worth $126,000 after acquiring an additional 988 shares in the last quarter.

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM opened at $59.55 on Friday. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of -13.75 and a beta of 2.32. The company has a 50 day simple moving average of $54.57 and a 200-day simple moving average of $55.34. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (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 analysts’ expectations of $38.48 million. On average, analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Pamela J. Cramer sold 20,760 shares of the firm’s stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $60.14, for a total transaction of $1,248,506.40. Following the transaction, the insider now owns 19,209 shares of the company’s stock, valued at approximately $1,155,229.26. This trade represents a 51.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Yann Mazabraud sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,641 shares of company stock valued at $8,112,177. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

RYTM has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. HC Wainwright restated a “buy” rating and set a $80.00 target price (up from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Wells Fargo & Company raised their price objective on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an “overweight” rating in a research note on Monday, April 7th. Finally, Stifel Nicolaus began coverage on Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They set a “buy” rating and a $78.00 target price on the stock. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Rhythm Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $74.92.

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.