Loomis Sayles & Co. L P Invests $33.35 Million in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Loomis Sayles & Co. L P bought a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 636,628 shares of the company’s stock, valued at approximately $33,353,000. Loomis Sayles & Co. L P owned about 1.04% of Rhythm Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RYTM. CWM LLC boosted its stake in Rhythm Pharmaceuticals by 62.6% in the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after purchasing an additional 253 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the second quarter worth $51,000. ORG Wealth Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals during the third quarter valued at $63,000. Quest Partners LLC increased its position in shares of Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after acquiring an additional 1,391 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Rhythm Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after acquiring an additional 391 shares during the period.

Insider Activity

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 13,281 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $66.44, for a total transaction of $882,389.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pamela J. Cramer sold 4,099 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $50.03, for a total value of $205,072.97. Following the completion of the transaction, the insider now directly owns 13,500 shares in the company, valued at approximately $675,405. This trade represents a 23.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 138,181 shares of company stock valued at $8,359,750. 5.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RYTM has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday. TD Cowen raised their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Needham & Company LLC increased their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. JMP Securities began coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price objective for the company. Finally, Guggenheim started coverage on Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a “buy” rating and a $70.00 price target for the company. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.30.

Rhythm Pharmaceuticals Stock Down 0.0 %

Shares of RYTM opened at $59.92 on Tuesday. Rhythm Pharmaceuticals, Inc. has a 52-week low of $31.52 and a 52-week high of $68.58. The stock has a market cap of $3.68 billion, a PE ratio of -13.84 and a beta of 2.09. The firm’s fifty day moving average is $53.35 and its two-hundred day moving average is $47.28.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $33.20 million during the quarter, compared to the consensus estimate of $32.52 million. During the same quarter in the prior year, the firm earned ($0.76) EPS. Rhythm Pharmaceuticals’s quarterly revenue was up 47.6% on a year-over-year basis. As a group, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.36 earnings per share for the current year.

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.