Wedge Capital Management L L P NC Sells 28,213 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Wedge Capital Management L L P NC lessened its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 26.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,507 shares of the company’s stock after selling 28,213 shares during the quarter. Wedge Capital Management L L P NC owned about 0.13% of Rhythm Pharmaceuticals worth $3,517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its position in shares of Rhythm Pharmaceuticals by 85.3% during the 3rd quarter. Barclays PLC now owns 241,261 shares of the company’s stock worth $5,531,000 after purchasing an additional 111,033 shares in the last quarter. Silverarc Capital Management LLC raised its holdings in shares of Rhythm Pharmaceuticals by 124.3% in the 3rd quarter. Silverarc Capital Management LLC now owns 260,537 shares of the company’s stock worth $5,973,000 after acquiring an additional 144,369 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter worth about $1,004,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 9.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 384,748 shares of the company’s stock worth $8,820,000 after acquiring an additional 34,189 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter worth about $460,000.

Rhythm Pharmaceuticals Stock Performance

RYTM opened at $39.71 on Thursday. The company has a fifty day moving average price of $42.27 and a 200-day moving average price of $38.67. Rhythm Pharmaceuticals, Inc. has a one year low of $15.50 and a one year high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.70) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.70). Rhythm Pharmaceuticals had a negative net margin of 238.50% and a negative return on equity of 96.02%. The company had revenue of $24.23 million during the quarter, compared to the consensus estimate of $25.38 million. During the same period in the previous year, the firm posted ($0.75) EPS. The firm’s revenue was up 175.7% compared to the same quarter last year. On average, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RYTM has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on shares of Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. The Goldman Sachs Group increased their target price on shares of Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Rhythm Pharmaceuticals in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $47.20.

Insider Transactions at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 71,774 shares of Rhythm Pharmaceuticals stock in a transaction on Friday, February 9th. The shares were sold at an average price of $50.38, for a total transaction of $3,615,974.12. Following the completion of the sale, the insider now directly owns 2,686 shares of the company’s stock, valued at approximately $135,320.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 1,594 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $51.38, for a total value of $81,899.72. Following the completion of the sale, the executive vice president now directly owns 7,702 shares of the company’s stock, valued at $395,728.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Shulman sold 71,774 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $50.38, for a total transaction of $3,615,974.12. Following the completion of the sale, the insider now directly owns 2,686 shares of the company’s stock, valued at $135,320.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,069 shares of company stock valued at $7,626,355. Insiders own 4.70% of the company’s stock.

About Rhythm Pharmaceuticals

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.