Rhythm Pharmaceuticals (NASDAQ:RYTM) Director Lynn Tetrault Sells 37,000 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Director Lynn Tetrault sold 37,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the sale, the director directly owned 7,000 shares of the company’s stock, valued at approximately $702,240. This trade represents a 84.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ RYTM opened at $107.55 on Thursday. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $60.80 and a fifty-two week high of $122.20. The firm has a market capitalization of $7.37 billion, a P/E ratio of -34.36 and a beta of 1.91. The company’s 50 day simple moving average is $89.86 and its 200 day simple moving average is $95.79.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, May 5th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.03. The firm had revenue of $60.11 million during the quarter, compared to analyst estimates of $55.78 million. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The business’s quarterly revenue was up 83.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.81) EPS. Sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -3.11 EPS for the current fiscal year.

Institutional Trading of Rhythm Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. RA Capital Management L.P. grew its stake in Rhythm Pharmaceuticals by 17.3% in the fourth quarter. RA Capital Management L.P. now owns 6,666,837 shares of the company’s stock valued at $713,618,000 after acquiring an additional 985,478 shares during the period. Vanguard Group Inc. raised its position in shares of Rhythm Pharmaceuticals by 24.3% during the fourth 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 during the period. State Street Corp lifted its holdings in shares of Rhythm Pharmaceuticals by 8.4% during the 4th quarter. State Street Corp now owns 2,198,615 shares of the company’s stock valued at $235,340,000 after purchasing an additional 169,964 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Rhythm Pharmaceuticals by 11.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,560,847 shares of the company’s stock valued at $167,074,000 after purchasing an additional 160,950 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position 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 valued at $152,424,000 after purchasing an additional 235,920 shares during the period.

Analyst Ratings Changes

A number of brokerages recently commented on RYTM. Guggenheim lifted their price objective on Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. HC Wainwright cut their target price on Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Wall Street Zen upgraded Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Needham & Company LLC decreased their target price on Rhythm Pharmaceuticals from $139.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Finally, Stifel Nicolaus set a $133.00 price target on Rhythm Pharmaceuticals in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.12.

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.