Foresite Capital Management IV LLC Has $20.33 Million Holdings in Rhythm Pharmaceuticals Inc (RYTM)

Foresite Capital Management IV LLC cut its stake in Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 696,903 shares of the company’s stock after selling 25,000 shares during the quarter. Rhythm Pharmaceuticals comprises about 6.7% of Foresite Capital Management IV LLC’s investment portfolio, making the stock its 7th biggest position. Foresite Capital Management IV LLC owned 2.04% of Rhythm Pharmaceuticals worth $20,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in RYTM. RA Capital Management LLC purchased a new stake in shares of Rhythm Pharmaceuticals during the second quarter worth about $48,195,000. Janus Henderson Group PLC increased its position in shares of Rhythm Pharmaceuticals by 109.4% during the second quarter. Janus Henderson Group PLC now owns 2,291,785 shares of the company’s stock worth $71,641,000 after acquiring an additional 1,197,165 shares during the last quarter. Baker BROS. Advisors LP increased its position in shares of Rhythm Pharmaceuticals by 32.2% during the second quarter. Baker BROS. Advisors LP now owns 2,708,200 shares of the company’s stock worth $84,658,000 after acquiring an additional 659,180 shares during the last quarter. FMR LLC increased its position in shares of Rhythm Pharmaceuticals by 40.9% during the second quarter. FMR LLC now owns 1,825,634 shares of the company’s stock worth $57,069,000 after acquiring an additional 529,834 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Rhythm Pharmaceuticals by 52.7% during the third quarter. BlackRock Inc. now owns 1,141,503 shares of the company’s stock worth $33,297,000 after acquiring an additional 393,834 shares during the last quarter. 90.42% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on RYTM shares. Zacks Investment Research lowered Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, November 15th. Morgan Stanley set a $38.00 target price on Rhythm Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, September 7th. BidaskClub raised Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. ValuEngine raised Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, October 17th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $36.00 target price on shares of Rhythm Pharmaceuticals in a research report on Sunday, November 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Rhythm Pharmaceuticals has an average rating of “Buy” and a consensus target price of $38.25.

In related news, CEO Keith Michael Gottesdiener sold 16,500 shares of Rhythm Pharmaceuticals stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $30.08, for a total value of $496,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Der Ploeg Leonardus H.T. Van sold 38,000 shares of Rhythm Pharmaceuticals stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $30.09, for a total value of $1,143,420.00. The disclosure for this sale can be found here. Insiders sold 86,300 shares of company stock valued at $2,587,380 over the last quarter. Insiders own 4.93% of the company’s stock.

Shares of NASDAQ RYTM opened at $29.53 on Monday. Rhythm Pharmaceuticals Inc has a 1 year low of $16.80 and a 1 year high of $37.23. The stock has a market cap of $1.02 billion, a PE ratio of -10.43 and a beta of 2.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Friday, November 9th. The company reported ($0.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.06). As a group, research analysts predict that Rhythm Pharmaceuticals Inc will post -2.08 EPS for the current year.

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About Rhythm Pharmaceuticals

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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Institutional Ownership by Quarter for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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