Fmr LLC Buys 65,213 Shares of Rhythm Pharmaceuticals Inc (RYTM)
Fmr LLC increased its stake in Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) by 4.0% in the 4th quarter, HoldingsChannel reports. The fund owned 1,690,007 shares of the company’s stock after acquiring an additional 65,213 shares during the period. Fmr LLC’s holdings in Rhythm Pharmaceuticals were worth $45,427,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can purchased a new position in Rhythm Pharmaceuticals in the fourth quarter worth about $68,000. Legal & General Group Plc grew its position in Rhythm Pharmaceuticals by 46.6% in the third quarter. Legal & General Group Plc now owns 2,675 shares of the company’s stock worth $78,000 after acquiring an additional 850 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in Rhythm Pharmaceuticals by 424.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,020 shares of the company’s stock worth $135,000 after acquiring an additional 4,062 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in Rhythm Pharmaceuticals in the third quarter worth about $280,000. Finally, Alliancebernstein L.P. grew its position in Rhythm Pharmaceuticals by 74.0% in the third quarter. Alliancebernstein L.P. now owns 12,700 shares of the company’s stock worth $370,000 after acquiring an additional 5,400 shares in the last quarter. Institutional investors own 92.00% of the company’s stock.
Shares of NASDAQ RYTM opened at $25.41 on Thursday. The stock has a market capitalization of $885.73 million, a price-to-earnings ratio of -10.63 and a beta of 1.40. Rhythm Pharmaceuticals Inc has a 1 year low of $21.50 and a 1 year high of $37.23.
Several research firms recently commented on RYTM. BidaskClub lowered Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, March 30th. Stifel Nicolaus set a $34.00 price target on Rhythm Pharmaceuticals and gave the stock a “hold” rating in a research report on Thursday, March 28th. ValuEngine upgraded Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. Zacks Investment Research lowered Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Finally, LADENBURG THALM/SH SH began coverage on Rhythm Pharmaceuticals in a research report on Wednesday, March 13th. They issued a “buy” rating and a $43.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $39.00.
In other Rhythm Pharmaceuticals news, CEO Keith Michael Gottesdiener sold 2,449 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $30.04, for a total value of $73,567.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 64,775 shares of company stock valued at $1,945,980. 4.93% of the stock is owned by insiders.
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Rhythm Pharmaceuticals Company Profile
Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic disorders that result in life-threatening metabolic disorders. The company's lead product candidate is setmelanotide, a melanocortin-4 receptor agonist peptide, which is in Phase III clinical trials to treat pro-opiomelanocortin (POMC) and leptin receptor deficiency obesity, and Bardet-Biedl and Alström syndrome; and is in Phase II clinical trials for treating POMC heterozygous deficiency obesity and POMC epigenetic disorders.
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