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

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 4,385 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $101.26, for a total transaction of $444,025.10. Following the completion of the sale, the chief financial officer owned 110,512 shares in the company, valued at $11,190,445.12. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rhythm Pharmaceuticals Stock Up 1.8%

RYTM traded up $1.86 during trading hours on Thursday, hitting $103.16. 611,352 shares of the company’s stock were exchanged, compared to its average volume of 613,205. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of -33.28 and a beta of 2.00. Rhythm Pharmaceuticals, Inc. has a 1-year low of $45.90 and a 1-year high of $122.20. The stock’s 50-day moving average is $105.69 and its two-hundred day moving average is $103.23.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RYTM. Zacks Research raised Rhythm Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Citizens Jmp upped 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 22nd. TD Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, December 11th. Finally, Guggenheim lifted their price objective on shares of Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several large investors have recently modified their holdings of RYTM. Xponance LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 2.6% during the 4th quarter. Xponance LLC now owns 4,269 shares of the company’s stock worth $457,000 after buying an additional 107 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Rhythm Pharmaceuticals by 4.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,568 shares of the company’s stock worth $259,000 after acquiring an additional 110 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 39.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock worth $43,000 after acquiring an additional 113 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Rhythm Pharmaceuticals by 0.7% during the second quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock worth $1,104,000 after acquiring an additional 114 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Rhythm Pharmaceuticals by 48.6% in the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after purchasing an additional 118 shares during 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.