Hunter Smith Sells 2,713 Shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 2,713 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $103.00, for a total value of $279,439.00. Following the completion of the sale, the chief financial officer directly owned 122,824 shares in the company, valued at $12,650,872. This represents a 2.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock opened at $98.07 on Friday. The business has a 50-day simple moving average of $106.15 and a 200-day simple moving average of $102.81. Rhythm Pharmaceuticals, Inc. has a one year low of $45.90 and a one year high of $122.20. The company has a market cap of $6.55 billion, a PE ratio of -31.64 and a beta of 2.00.

Wall Street Analyst Weigh In

RYTM has been the topic of a number of analyst reports. UBS Group restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, December 17th. Wells Fargo & Company raised their target price on Rhythm Pharmaceuticals from $129.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. TD Cowen reaffirmed a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, December 11th. Guggenheim increased their price target on shares of Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Finally, Wall Street Zen downgraded shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $131.29.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC raised its position in Rhythm Pharmaceuticals by 39.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after purchasing an additional 113 shares during the last quarter. Morgan Stanley raised its holdings in shares of Rhythm Pharmaceuticals by 40.0% in the fourth quarter. Morgan Stanley now owns 651,402 shares of the company’s stock valued at $69,726,000 after buying an additional 186,212 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Rhythm Pharmaceuticals by 9.4% during the fourth quarter. First Trust Advisors LP now owns 88,505 shares of the company’s stock worth $9,474,000 after buying an additional 7,602 shares during the period. Headlands Technologies LLC purchased a new position in shares of Rhythm Pharmaceuticals during the fourth quarter worth about $924,000. Finally, Charles Schwab Investment Management Inc. increased its position in Rhythm Pharmaceuticals by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 532,447 shares of the company’s stock valued at $56,993,000 after acquiring an additional 4,525 shares during the period.

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.