Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Yann Mazabraud Sells 75,000 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Yann Mazabraud sold 75,000 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $51.48, for a total value of $3,861,000.00. Following the transaction, the executive vice president now directly owns 40,370 shares of the company’s stock, valued at $2,078,247.60. This represents a 65.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM opened at $55.21 on Thursday. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of -12.75 and a beta of 2.30. The business has a 50-day simple moving average of $55.51 and a two-hundred day simple moving average of $54.81. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The company had revenue of $41.83 million during the quarter, compared to analysts’ expectations of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. As a group, research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. The Goldman Sachs Group lifted their target price on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 5th. HC Wainwright upped their price target on Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Jefferies Financial Group initiated coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 price objective for the company. Finally, Stifel Nicolaus started coverage on Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They issued a “buy” rating and a $78.00 target price on the stock. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $69.46.

Institutional Trading of Rhythm Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in RYTM. Principal Financial Group Inc. grew its holdings in Rhythm Pharmaceuticals by 241.9% during the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock valued at $1,707,000 after buying an additional 23,054 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Rhythm Pharmaceuticals by 158.0% during the third quarter. Victory Capital Management Inc. now owns 18,186 shares of the company’s stock worth $953,000 after acquiring an additional 11,137 shares during the last quarter. Quest Partners LLC boosted its position in shares of Rhythm Pharmaceuticals by 451.6% during the third quarter. Quest Partners LLC now owns 9,167 shares of the company’s stock worth $480,000 after acquiring an additional 7,505 shares during the last quarter. Intech Investment Management LLC purchased a new position in Rhythm Pharmaceuticals during the third quarter valued at $649,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Rhythm Pharmaceuticals by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 433,866 shares of the company’s stock valued at $22,730,000 after acquiring an additional 5,908 shares during the last quarter.

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.