Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith Sells 2,215 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 2,215 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $126,742.30. Following the sale, the chief financial officer now directly owns 109,929 shares of the company’s stock, valued at $6,290,137.38. This trade represents a 1.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM opened at $57.74 on Friday. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of -13.33 and a beta of 2.14. The business’s 50 day moving average price is $57.10 and its 200-day moving average price is $53.89. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58.

Institutional Trading of Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of RYTM. GF Fund Management CO. LTD. purchased a new position in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $72,000. Voloridge Investment Management LLC raised its stake in Rhythm Pharmaceuticals by 7.7% in the 4th quarter. Voloridge Investment Management LLC now owns 380,537 shares of the company’s stock valued at $21,302,000 after purchasing an additional 27,214 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Rhythm Pharmaceuticals by 2.3% in the 4th quarter. Two Sigma Advisers LP now owns 13,100 shares of the company’s stock valued at $733,000 after purchasing an additional 300 shares in the last quarter. State of Wyoming purchased a new position in Rhythm Pharmaceuticals in the 4th quarter valued at $61,000. Finally, Stempoint Capital LP boosted its stake in Rhythm Pharmaceuticals by 404.1% during the 4th quarter. Stempoint Capital LP now owns 208,016 shares of the company’s stock worth $11,645,000 after purchasing an additional 166,748 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Oppenheimer began coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. The Goldman Sachs Group boosted their target price on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $64.00 price target on shares of Rhythm Pharmaceuticals in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.09.

Rhythm Pharmaceuticals Company 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.