Short Interest in Rhythm Pharmaceuticals Inc (RYTM) Grows By 56.7%
Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 842,094 shares, an increase of 56.7% from the January 31st total of 537,344 shares. Currently, 6.8% of the company’s shares are sold short. Based on an average trading volume of 73,059 shares, the days-to-cover ratio is presently 11.5 days.
Rhythm Pharmaceuticals (NASDAQ RYTM) opened at $26.46 on Monday. Rhythm Pharmaceuticals has a 1 year low of $21.38 and a 1 year high of $33.81.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alkeon Capital Management LLC acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at about $727,000. MetLife Investment Advisors LLC purchased a new stake in Rhythm Pharmaceuticals during the fourth quarter worth about $287,000. Metropolitan Life Insurance Co. NY purchased a new stake in Rhythm Pharmaceuticals during the fourth quarter worth about $196,000. Zimmer Partners LP purchased a new stake in Rhythm Pharmaceuticals during the fourth quarter worth about $1,017,000. Finally, TIAA CREF Investment Management LLC purchased a new stake in Rhythm Pharmaceuticals during the fourth quarter worth about $551,000. 56.47% of the stock is currently owned by institutional investors.
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Rhythm Pharmaceuticals Company Profile
Rhythm Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of peptide therapeutics for the treatment of rare genetic deficiencies that result in life-threatening metabolic disorders. The Company’s lead peptide product candidate is setmelanotide, a potent, first-in-class melanocortin-4 receptor, or MC4R, agonist for the treatment of rare genetic disorders of obesity.
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