Trexquant Investment LP purchased a new position in shares of Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 12,950 shares of the company’s stock, valued at approximately $405,000.

Other hedge funds have also recently bought and sold shares of the company. Wells Fargo & Company MN acquired a new position in Rhythm Pharmaceuticals during the 4th quarter worth approximately $131,000. Rhumbline Advisers purchased a new stake in shares of Rhythm Pharmaceuticals in the second quarter worth approximately $357,000. TD Asset Management Inc. purchased a new stake in shares of Rhythm Pharmaceuticals in the second quarter worth approximately $364,000. State of Wisconsin Investment Board purchased a new stake in shares of Rhythm Pharmaceuticals in the second quarter worth approximately $394,000. Finally, Deutsche Bank AG purchased a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth approximately $542,000. 89.97% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently commented on the company. BidaskClub raised Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Needham & Company LLC increased their price objective on Rhythm Pharmaceuticals from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, June 25th. ValuEngine raised Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research raised Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Saturday, June 16th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.40.

RYTM stock opened at $31.99 on Wednesday. Rhythm Pharmaceuticals Inc has a 12-month low of $16.80 and a 12-month high of $37.23.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Wednesday, August 8th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.04). sell-side analysts anticipate that Rhythm Pharmaceuticals Inc will post -1.86 EPS for the current fiscal year.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of peptide therapeutics for the treatment of rare genetic disorders of obesity in the United States. Its peptide candidates include Setmelanotide, a melanocortin-4 receptor agonist, which is in Phase III clinical trial to treat POMC and leptin receptor deficiency obesity; and Phase II clinical trial for Bardet-Biedl and Alström syndrome, POMC heterozygous deficiency obesity, and POMC epigenetic disorders.

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Institutional Ownership by Quarter for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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