D. E. Shaw & Co. Inc. lessened its stake in Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) by 78.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,982 shares of the company’s stock after selling 41,179 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Rhythm Pharmaceuticals were worth $295,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RYTM. Great West Life Assurance Co. Can purchased a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at approximately $68,000. Legal & General Group Plc boosted its holdings in Rhythm Pharmaceuticals by 46.6% in the 3rd quarter. Legal & General Group Plc now owns 2,675 shares of the company’s stock valued at $78,000 after purchasing an additional 850 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in Rhythm Pharmaceuticals in the 3rd quarter valued at approximately $280,000. Alliancebernstein L.P. boosted its holdings in Rhythm Pharmaceuticals by 74.0% in the 3rd quarter. Alliancebernstein L.P. now owns 12,700 shares of the company’s stock valued at $370,000 after purchasing an additional 5,400 shares in the last quarter. Finally, TD Asset Management Inc. boosted its holdings in Rhythm Pharmaceuticals by 5.5% in the 4th quarter. TD Asset Management Inc. now owns 15,359 shares of the company’s stock valued at $413,000 after purchasing an additional 797 shares in the last quarter. Hedge funds and other institutional investors own 92.00% of the company’s stock.

A number of equities research analysts have weighed in on RYTM shares. LADENBURG THALM/SH SH started coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 13th. They issued a “buy” rating and a $43.00 price objective on the stock. Zacks Investment Research raised Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, February 21st. Cowen reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, March 8th. BidaskClub raised Rhythm Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 10th. Finally, ValuEngine raised Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Rhythm Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $39.00.

Shares of RYTM opened at $25.74 on Tuesday. The company has a market capitalization of $912.57 million, a price-to-earnings ratio of -10.77 and a beta of 1.40. Rhythm Pharmaceuticals Inc has a twelve month low of $21.44 and a twelve month high of $37.23.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Friday, March 8th. The company reported ($0.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.17). As a group, equities research analysts forecast that Rhythm Pharmaceuticals Inc will post -3.01 earnings per share for the current fiscal year.

In other news, CEO Keith Michael Gottesdiener sold 15,779 shares of the business’s stock in a transaction that occurred on Wednesday, January 23rd. The stock was sold at an average price of $30.05, for a total transaction of $474,158.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 65,637 shares of company stock worth $1,971,840 in the last three months. Corporate insiders own 4.93% of the company’s stock.

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About Rhythm Pharmaceuticals

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

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