Rhythm Pharmaceuticals (RYTM) Sees Unusually-High Trading Volume

Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) shares saw unusually-strong trading volume on Thursday . Approximately 3,629,300 shares changed hands during trading, an increase of 2,377% from the previous session’s volume of 146,515 shares.The stock last traded at $32.91 and had previously closed at $26.42.

Several research analysts recently commented on RYTM shares. Needham & Company LLC restated a “buy” rating and set a $32.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, February 26th. BidaskClub upgraded shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, March 14th. Zacks Investment Research cut shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, April 24th. Finally, ValuEngine upgraded shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Rhythm Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $33.20.

The company has a market cap of $906.02 million and a P/E ratio of -11.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Monday, May 14th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.15). sell-side analysts predict that Rhythm Pharmaceuticals Inc will post -1.84 earnings per share for the current year.

In other Rhythm Pharmaceuticals news, major shareholder Orbimed Advisors Llc sold 131,636 shares of the stock in a transaction on Monday, May 21st. The shares were sold at an average price of $30.88, for a total value of $4,064,919.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.93% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Perceptive Advisors LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $21,654,000. ArrowMark Colorado Holdings LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $13,487,000. BlackRock Inc. lifted its stake in shares of Rhythm Pharmaceuticals by 7.1% during the 1st quarter. BlackRock Inc. now owns 385,802 shares of the company’s stock worth $7,678,000 after buying an additional 25,731 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $7,175,000. Finally, Foresite Capital Management IV LLC lifted its stake in shares of Rhythm Pharmaceuticals by 14.3% during the 1st quarter. Foresite Capital Management IV LLC now owns 200,000 shares of the company’s stock worth $3,980,000 after buying an additional 25,000 shares during the last quarter. Institutional investors own 88.30% of the company’s stock.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of peptide therapeutics for the treatment of rare genetic disorders of obesity in the United States. Its peptide candidates include Setmelanotide, a melanocortin-4 receptor agonist, which is in Phase III clinical trial to treat POMC and leptin receptor deficiency obesity; and Phase II clinical trial for Bardet-Biedl and Alström syndrome, POMC heterozygous deficiency obesity, and POMC epigenetic disorders.

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