Hunter Smith Sells 4,385 Shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 4,385 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $101.26, for a total value of $444,025.10. Following the completion of the transaction, the chief financial officer directly owned 110,512 shares in the company, valued at approximately $11,190,445.12. This represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Rhythm Pharmaceuticals Stock Up 1.8%

Shares of RYTM traded up $1.86 during midday trading on Thursday, reaching $103.16. 611,352 shares of the stock were exchanged, compared to its average volume of 613,205. The stock’s 50 day simple moving average is $105.69 and its 200 day simple moving average is $103.23. The company has a market cap of $6.88 billion, a P/E ratio of -33.28 and a beta of 2.00. Rhythm Pharmaceuticals, Inc. has a twelve month low of $45.90 and a twelve month high of $122.20.

Analysts Set New Price Targets

RYTM has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, January 22nd. The Goldman Sachs Group boosted their price target on Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Royal Bank Of Canada initiated coverage on Rhythm Pharmaceuticals in a research report on Wednesday. They set an “outperform” rating on the stock. Oppenheimer cut Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 5th. Finally, Citigroup reiterated an “outperform” rating on shares of Rhythm Pharmaceuticals in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $131.50.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its position in shares of Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 200 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Rhythm Pharmaceuticals by 97.2% during the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after acquiring an additional 141 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 1,110.3% in the third quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock worth $35,000 after acquiring an additional 322 shares during the last quarter. Optiver Holding B.V. lifted its holdings in shares of Rhythm Pharmaceuticals by 65.2% in the third quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock worth $37,000 after acquiring an additional 144 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Rhythm Pharmaceuticals by 73.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 145 shares in the last quarter.

About Rhythm Pharmaceuticals

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.