Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Sells $246,773.99 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 4,189 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $58.91, for a total value of $246,773.99. Following the sale, the executive vice president now owns 4,409 shares in the company, valued at approximately $259,734.19. This represents a 48.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 value of $85,995.21.

Rhythm Pharmaceuticals Trading Down 1.5 %

NASDAQ:RYTM traded down $0.89 during trading hours on Tuesday, reaching $57.58. The company had a trading volume of 289,541 shares, compared to its average volume of 495,983. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of -13.30 and a beta of 2.14. The firm’s 50 day moving average price is $57.22 and its 200-day moving average price is $53.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC lifted its stake in shares of Rhythm Pharmaceuticals by 26.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 15,057 shares of the company’s stock valued at $789,000 after buying an additional 3,137 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Rhythm Pharmaceuticals during the 3rd quarter valued at $63,000. Creative Planning purchased a new position in shares of Rhythm Pharmaceuticals during the 3rd quarter valued at $450,000. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Rhythm Pharmaceuticals by 4.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 100,961 shares of the company’s stock valued at $5,289,000 after buying an additional 4,583 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Rhythm Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after buying an additional 391 shares in the last quarter.

Analyst Ratings Changes

Several research firms have issued reports on RYTM. Bank of America increased their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Guggenheim initiated coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a “buy” rating and a $70.00 price target 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. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price target on the stock. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $80.00 price target on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.