Janus Henderson Group PLC Has $31.34 Million Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Janus Henderson Group PLC increased its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 598,122 shares of the company’s stock after acquiring an additional 4,480 shares during the period. Janus Henderson Group PLC’s holdings in Rhythm Pharmaceuticals were worth $31,335,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Perceptive Advisors LLC lifted its stake in Rhythm Pharmaceuticals by 5.4% during the second quarter. Perceptive Advisors LLC now owns 3,446,579 shares of the company’s stock worth $141,517,000 after purchasing an additional 178,000 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its position in shares of Rhythm Pharmaceuticals by 8.3% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock worth $97,366,000 after buying an additional 181,125 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in Rhythm Pharmaceuticals by 38.2% in the second quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company’s stock valued at $48,548,000 after buying an additional 326,865 shares in the last quarter. Alkeon Capital Management LLC grew its position in Rhythm Pharmaceuticals by 16.8% in the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock valued at $61,176,000 after acquiring an additional 167,700 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Rhythm Pharmaceuticals by 14.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock worth $58,208,000 after acquiring an additional 143,800 shares in the last quarter.

Rhythm Pharmaceuticals Stock Up 1.9 %

Shares of NASDAQ:RYTM opened at $58.89 on Friday. The firm has a market cap of $3.62 billion, a P/E ratio of -13.60 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The business has a fifty day simple moving average of $55.06 and a 200 day simple moving average of $48.65.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RYTM. Bank of America raised their price target on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. HC Wainwright reaffirmed a “buy” rating and set a $69.00 target price on shares of Rhythm Pharmaceuticals in a research note on Wednesday. Guggenheim started coverage on Rhythm Pharmaceuticals in a research note on Monday, October 21st. They issued a “buy” rating and a $70.00 price target for the company. JMP Securities assumed coverage on Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They set an “outperform” rating and a $64.00 price objective on the stock. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.70.

Insider Transactions at Rhythm Pharmaceuticals

In related news, insider Pamela J. Cramer sold 4,099 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $50.03, for a total transaction of $205,072.97. Following the sale, the insider now owns 13,500 shares in the company, valued at $675,405. This represents a 23.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lynn A. Tetrault sold 17,501 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $49.65, for a total value of $868,924.65. Following the completion of the sale, the director now owns 3,000 shares of the company’s stock, valued at approximately $148,950. The trade was a 85.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,181 shares of company stock worth $8,359,750. Company insiders own 5.60% of the company’s stock.

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.