Rhythm Pharmaceuticals (NASDAQ:RYTM) CFO Hunter Smith Sells 1,592 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 1,592 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $98.23, for a total value of $156,382.16. Following the transaction, the chief financial officer owned 118,466 shares of the company’s stock, valued at approximately $11,636,915.18. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM traded down $2.41 during mid-day trading on Thursday, hitting $96.06. The company’s stock had a trading volume of 1,150,390 shares, compared to its average volume of 591,523. The stock’s 50-day moving average is $106.28 and its two-hundred day moving average is $102.72. The firm has a market capitalization of $6.41 billion, a PE ratio of -30.99 and a beta of 2.00. Rhythm Pharmaceuticals, Inc. has a one year low of $45.90 and a one year high of $122.20.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RYTM shares. The Goldman Sachs Group boosted their price objective on shares of Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, December 12th. UBS Group reissued a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 17th. Oppenheimer lowered Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. Citigroup reaffirmed an “outperform” rating on shares of Rhythm Pharmaceuticals in a report on Friday, December 12th. Finally, Canaccord Genuity Group raised their price objective on Rhythm Pharmaceuticals from $114.00 to $141.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.29.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its stake in Rhythm Pharmaceuticals by 148.2% during the first quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock worth $2,085,000 after purchasing an additional 23,506 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Rhythm Pharmaceuticals by 6.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,282 shares of the company’s stock worth $1,874,000 after buying an additional 2,126 shares in the last quarter. KLP Kapitalforvaltning AS raised its holdings in shares of Rhythm Pharmaceuticals by 9.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,200 shares of the company’s stock worth $645,000 after buying an additional 900 shares in the last quarter. CWM LLC lifted its position in shares of Rhythm Pharmaceuticals by 19.6% during the 2nd quarter. CWM LLC now owns 3,091 shares of the company’s stock worth $195,000 after buying an additional 507 shares during the period. Finally, TD Asset Management Inc boosted its stake in Rhythm Pharmaceuticals by 11.6% in the 2nd quarter. TD Asset Management Inc now owns 56,000 shares of the company’s stock valued at $3,539,000 after buying an additional 5,800 shares in the last quarter.

Rhythm Pharmaceuticals Company 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.