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

Westfield Capital Management Co. LP cut its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 34.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,069,004 shares of the company’s stock after selling 560,464 shares during the period. Westfield Capital Management Co. LP owned 1.60% of Rhythm Pharmaceuticals worth $107,959,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Fox Run Management L.L.C. bought a new stake in shares of Rhythm Pharmaceuticals during the third quarter worth approximately $254,000. MAI Capital Management acquired a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth $188,000. Optiver Holding B.V. grew its holdings in Rhythm Pharmaceuticals by 65.2% during the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock worth $37,000 after acquiring an additional 144 shares during the period. TD Asset Management Inc raised its position in shares of Rhythm Pharmaceuticals by 6.4% during the 3rd quarter. TD Asset Management Inc now owns 59,564 shares of the company’s stock valued at $6,015,000 after acquiring an additional 3,564 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at $4,302,000.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RYTM shares. Wells Fargo & Company lifted their price objective on Rhythm Pharmaceuticals from $129.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Citizens Jmp boosted their target price on Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the stock a “market outperform” rating in a research report on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 22nd. Guggenheim increased their price target on shares of Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Finally, Needham & Company LLC boosted their price objective on shares of Rhythm Pharmaceuticals from $145.00 to $148.00 and gave the company a “buy” rating in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.50.

Insiders Place Their Bets

In related news, insider Pamela J. Cramer sold 3,350 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $111.00, for a total value of $371,850.00. Following the completion of the transaction, the insider directly owned 20,814 shares of the company’s stock, valued at approximately $2,310,354. This represents a 13.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Hunter C. Smith sold 4,385 shares of Rhythm Pharmaceuticals stock in a transaction dated 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 directly owned 110,512 shares in the company, valued at $11,190,445.12. This represents a 3.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 25,003 shares of company stock valued at $2,589,015. Company insiders own 6.10% of the company’s stock.

Rhythm Pharmaceuticals Stock Performance

NASDAQ RYTM opened at $99.15 on Thursday. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of -31.98 and a beta of 2.00. The business has a 50 day simple moving average of $104.56 and a 200 day simple moving average of $103.54. 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) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 110.32% and a negative return on equity of 433.21%. The firm had revenue of $57.25 million for the quarter, compared to analyst estimates of $56.16 million. On average, analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Rhythm Pharmaceuticals 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.