Westfield Capital Management Co. LP Has $107.96 Million Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Westfield Capital Management Co. LP decreased its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 34.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,069,004 shares of the company’s stock after selling 560,464 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Rhythm Pharmaceuticals were worth $107,959,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Rhythm Pharmaceuticals by 39.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,996,427 shares of the company’s stock worth $504,589,000 after buying an additional 1,407,313 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Rhythm Pharmaceuticals by 2.5% in the third quarter. Federated Hermes Inc. now owns 1,727,885 shares of the company’s stock valued at $174,499,000 after acquiring an additional 41,391 shares during the last quarter. Geode Capital Management LLC boosted its position in Rhythm Pharmaceuticals by 1.9% during the second quarter. Geode Capital Management LLC now owns 1,311,253 shares of the company’s stock valued at $82,868,000 after purchasing an additional 24,085 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Rhythm Pharmaceuticals by 51.6% in the third quarter. JPMorgan Chase & Co. now owns 1,188,069 shares of the company’s stock valued at $119,983,000 after purchasing an additional 404,510 shares in the last quarter. Finally, Alkeon Capital Management LLC grew its stake in Rhythm Pharmaceuticals by 24.5% in the second quarter. Alkeon Capital Management LLC now owns 1,017,700 shares of the company’s stock valued at $64,308,000 after purchasing an additional 200,000 shares in the last quarter.

Insider Buying and Selling

In related news, insider Pamela J. Cramer sold 3,350 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $111.00, for a total transaction of $371,850.00. Following the completion of the sale, the insider directly owned 20,814 shares of the company’s stock, valued at approximately $2,310,354. This trade represents a 13.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Hunter C. Smith sold 4,385 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $101.26, for a total value of $444,025.10. Following the completion of the sale, the chief financial officer owned 110,512 shares of the company’s stock, valued at $11,190,445.12. This trade represents a 3.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 25,003 shares of company stock worth $2,589,015. 6.10% of the stock is owned by corporate insiders.

Rhythm Pharmaceuticals Stock Performance

NASDAQ RYTM opened at $99.15 on Thursday. The firm has a 50-day moving average of $104.56 and a 200-day moving average of $103.54. The stock has a market cap of $6.62 billion, a PE ratio of -31.98 and a beta of 2.00. Rhythm Pharmaceuticals, Inc. has a 52-week low of $45.90 and a 52-week high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. The business had revenue of $57.25 million for the quarter, compared to analyst estimates of $56.16 million. Rhythm Pharmaceuticals had a negative net margin of 110.32% and a negative return on equity of 433.21%. As a group, analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Analysts Set New Price Targets

RYTM has been the topic of a number of analyst reports. HC Wainwright upped their price objective on Rhythm Pharmaceuticals from $123.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 price target on shares of Rhythm Pharmaceuticals in a research report on Thursday, December 11th. Wall Street Zen cut shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. UBS Group restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, December 17th. Finally, Wells Fargo & Company raised their target price on shares of Rhythm Pharmaceuticals from $129.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.50.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.