Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Sells $116,442.70 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 2,035 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $116,442.70. Following the completion of the transaction, the executive vice president now directly owns 5,858 shares in the company, valued at $335,194.76. This trade represents a 25.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Jennifer Kayden Lee also recently made the following trade(s):

• On Wednesday, February 12th, Jennifer Kayden Lee sold 1,815 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $56.39, for a total value of $102,347.85.
• On Monday, February 10th, Jennifer Kayden Lee sold 4,189 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $58.91, for a total value of $246,773.99.
• On Tuesday, February 4th, Jennifer Kayden Lee sold 1,447 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $59.43, for a total transaction of $85,995.21.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock opened at $56.07 on Friday. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The stock has a fifty day moving average of $57.12 and a two-hundred day moving average of $53.97. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -12.95 and a beta of 2.14.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P acquired a new position in Rhythm Pharmaceuticals in the third quarter valued at $33,353,000. Janus Henderson Group PLC grew its position in Rhythm Pharmaceuticals by 103.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock valued at $68,309,000 after acquiring an additional 621,432 shares during the period. Marshall Wace LLP increased its position in Rhythm Pharmaceuticals by 70.4% during the 4th quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock worth $38,783,000 after purchasing an additional 286,188 shares in the last quarter. Norges Bank purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $11,512,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Rhythm Pharmaceuticals by 224.3% during the 4th quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company’s stock valued at $14,811,000 after acquiring an additional 182,993 shares in the last quarter.

Analysts Set New Price Targets

RYTM has been the subject of several recent research reports. Oppenheimer began coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an “outperform” rating and a $76.00 target price for the company. Jefferies Financial Group started coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Finally, TD Cowen lifted their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $68.09.

About Rhythm Pharmaceuticals

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.