Rhythm Pharmaceuticals (NASDAQ:RYTM) CFO Hunter Smith Sells 2,766 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 2,766 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $98.61, for a total transaction of $272,755.26. Following the transaction, the chief financial officer owned 120,058 shares of the company’s stock, valued at approximately $11,838,919.38. The trade was a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Rhythm Pharmaceuticals Stock Performance

NASDAQ:RYTM opened at $96.06 on Friday. Rhythm Pharmaceuticals, Inc. has a 52 week low of $45.90 and a 52 week high of $122.20. The firm’s fifty day moving average is $106.28 and its 200-day moving average is $102.72. The firm has a market cap of $6.41 billion, a P/E ratio of -30.99 and a beta of 2.00.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Needham & Company LLC lifted their target price on Rhythm Pharmaceuticals from $145.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Thursday, December 11th. Citigroup reiterated an “outperform” rating on shares of Rhythm Pharmaceuticals in a research report on Friday, December 12th. TD Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, December 11th. Finally, UBS Group reaffirmed a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.29.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RYTM. Vanguard Group Inc. increased its holdings in Rhythm Pharmaceuticals by 24.3% during the 4th quarter. Vanguard Group Inc. now owns 6,210,916 shares of the company’s stock worth $664,816,000 after purchasing an additional 1,214,489 shares in the last quarter. RA Capital Management L.P. lifted its stake in Rhythm Pharmaceuticals by 2.2% during the 3rd quarter. RA Capital Management L.P. now owns 5,681,359 shares of the company’s stock valued at $573,760,000 after acquiring an additional 120,000 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Rhythm Pharmaceuticals by 2.5% during the 3rd quarter. Federated Hermes Inc. now owns 1,727,885 shares of the company’s stock worth $174,499,000 after acquiring an additional 41,391 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Rhythm Pharmaceuticals by 21.5% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,629,468 shares of the company’s stock worth $102,966,000 after acquiring an additional 288,376 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Rhythm Pharmaceuticals by 19.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,423,989 shares of the company’s stock worth $152,424,000 after acquiring an additional 235,920 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.