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

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 1,592 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer owned 118,466 shares of the company’s stock, valued at $11,636,915.18. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock opened at $96.06 on Friday. Rhythm Pharmaceuticals, Inc. has a one year low of $45.90 and a one year high of $122.20. The company’s fifty day moving average price is $106.28 and its 200-day moving average price is $102.72. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of -30.99 and a beta of 2.00.

Wall Street Analysts Forecast Growth

RYTM has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 22nd. UBS Group restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 17th. Wall Street Zen downgraded Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Citizens Jmp boosted their price objective on Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the stock a “market outperform” rating in a research note on Friday, December 12th. Finally, Citigroup reissued an “outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.29.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

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

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.