Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 3,016,400 shares, a growth of 106.9% from the July 31st total of 1,458,100 shares. Currently, 14.3% of the company’s stock are sold short. Based on an average daily trading volume, of 238,900 shares, the short-interest ratio is presently 12.6 days.

RYTM stock traded up $0.42 during trading on Friday, reaching $23.36. The company had a trading volume of 3,331 shares, compared to its average volume of 182,980. The firm has a 50-day simple moving average of $20.88 and a 200-day simple moving average of $24.39. The company has a market cap of $780.79 million, a price-to-earnings ratio of -9.72 and a beta of 0.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.80 and a current ratio of 7.80. Rhythm Pharmaceuticals has a twelve month low of $18.00 and a twelve month high of $32.62.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Monday, July 29th. The company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.36). Sell-side analysts expect that Rhythm Pharmaceuticals will post -4.16 earnings per share for the current year.

A number of analysts have recently weighed in on RYTM shares. Zacks Investment Research cut shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. ValuEngine upgraded shares of Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Canaccord Genuity started coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, July 8th. They issued a “buy” rating and a $35.00 target price for the company. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $43.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $34.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $38.80.

Hedge funds have recently added to or reduced their stakes in the stock. University of Notre Dame DU Lac acquired a new stake in Rhythm Pharmaceuticals during the 2nd quarter valued at approximately $3,051,000. Susquehanna International Group LLP acquired a new stake in Rhythm Pharmaceuticals during the 2nd quarter valued at approximately $328,000. Price T Rowe Associates Inc. MD lifted its stake in Rhythm Pharmaceuticals by 6.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,072,041 shares of the company’s stock valued at $23,585,000 after acquiring an additional 64,625 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Rhythm Pharmaceuticals during the 2nd quarter valued at approximately $31,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Rhythm Pharmaceuticals during the 2nd quarter valued at approximately $278,000. Institutional investors own 90.58% of the company’s stock.

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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