E Fund Management Co. Ltd. Buys Shares of 6,533 Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

E Fund Management Co. Ltd. acquired a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,533 shares of the company’s stock, valued at approximately $300,000.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Rhythm Pharmaceuticals by 2.9% during the third quarter. Vanguard Group Inc. now owns 3,014,568 shares of the company’s stock worth $69,109,000 after buying an additional 85,139 shares in the last quarter. Polar Capital Holdings Plc grew its holdings in shares of Rhythm Pharmaceuticals by 11.1% during the third quarter. Polar Capital Holdings Plc now owns 2,500,000 shares of the company’s stock worth $57,312,000 after buying an additional 250,000 shares in the last quarter. FMR LLC grew its holdings in shares of Rhythm Pharmaceuticals by 23.8% during the third quarter. FMR LLC now owns 868,474 shares of the company’s stock worth $19,910,000 after buying an additional 166,940 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Rhythm Pharmaceuticals by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 397,685 shares of the company’s stock worth $18,282,000 after buying an additional 12,937 shares in the last quarter. Finally, Silverarc Capital Management LLC grew its holdings in shares of Rhythm Pharmaceuticals by 124.3% during the third quarter. Silverarc Capital Management LLC now owns 260,537 shares of the company’s stock worth $5,973,000 after buying an additional 144,369 shares in the last quarter.

Rhythm Pharmaceuticals Stock Down 1.1 %

Shares of RYTM traded down $0.42 during trading hours on Thursday, hitting $38.50. The company had a trading volume of 467,414 shares, compared to its average volume of 639,026. The business has a fifty day moving average of $40.68 and a 200-day moving average of $39.85. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -8.27 and a beta of 1.94. Rhythm Pharmaceuticals, Inc. has a 12 month low of $15.50 and a 12 month high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($2.35) earnings per share for the quarter, missing the consensus estimate of ($2.34) by ($0.01). Rhythm Pharmaceuticals had a negative net margin of 238.50% and a negative return on equity of 96.02%. The company had revenue of $26.00 million during the quarter, compared to the consensus estimate of $26.90 million. During the same period in the prior year, the company earned ($0.92) earnings per share. The firm’s revenue was up 126.1% compared to the same quarter last year. On average, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.02 EPS for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 1,594 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $51.38, for a total transaction of $81,899.72. Following the transaction, the executive vice president now owns 7,702 shares in the company, valued at approximately $395,728.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 71,774 shares of the stock in a transaction dated 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 sale, the insider now directly owns 2,686 shares in the company, valued at $135,320.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Yann Mazabraud sold 1,594 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $51.38, for a total transaction of $81,899.72. Following the completion of the transaction, the executive vice president now owns 7,702 shares of the company’s stock, valued at $395,728.76. The disclosure for this sale can be found here. Insiders sold 172,069 shares of company stock worth $7,626,355 in the last ninety days. 4.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RYTM shares. Wells Fargo & Company decreased their price target on 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 raised their price target on Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Needham & Company LLC decreased their price target on Rhythm Pharmaceuticals from $50.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday. Bank of America downgraded Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price target for the company from $49.00 to $42.00 in a research note on Wednesday. Finally, Canaccord Genuity Group decreased their price target on Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $54.33.

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.