Rhythm Pharmaceuticals (NASDAQ:RYTM) EVP Jennifer Kayden Lee Sells 75,834 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 75,834 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $117.38, for a total value of $8,901,394.92. Following the completion of the transaction, the executive vice president owned 54,233 shares in the company, valued at approximately $6,365,869.54. The trade was a 58.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rhythm Pharmaceuticals Stock Performance

NASDAQ RYTM traded down $0.54 on Friday, hitting $115.48. 334,875 shares of the stock traded hands, compared to its average volume of 730,495. The business’s fifty day moving average is $105.44 and its two-hundred day moving average is $96.45. Rhythm Pharmaceuticals, Inc. has a 12 month low of $74.50 and a 12 month high of $122.20. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of -37.13 and a beta of 1.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative return on equity of 159.87% and a negative net margin of 85.59%.The firm had revenue of $71.25 million for the quarter, compared to analyst estimates of $67.66 million. During the same period in the previous year, the company posted ($0.75) earnings per share. The business’s revenue was up 46.9% on a year-over-year basis. Analysts expect that Rhythm Pharmaceuticals, Inc. will post -2.82 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on RYTM shares. JPMorgan Chase & Co. raised their target price on Rhythm Pharmaceuticals from $145.00 to $146.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. TD Cowen reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 17th. National Bank Financial set a $160.00 target price on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Wells Fargo & Company upped their price target on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Fifteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.44.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. ADAR1 Capital Management LLC bought a new stake in Rhythm Pharmaceuticals during the second quarter worth about $15,118,000. EFG International AG bought a new position in shares of Rhythm Pharmaceuticals during the 2nd quarter valued at about $3,728,000. Primecap Management Co. CA bought a new position in shares of Rhythm Pharmaceuticals during the 2nd quarter valued at about $351,838,000. Canada Pension Plan Investment Board purchased a new position in shares of Rhythm Pharmaceuticals during the 2nd quarter valued at about $5,263,000. Finally, Nicholas Investment Partners LP purchased a new position in shares of Rhythm Pharmaceuticals during the 2nd quarter valued at about $15,463,000.

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.