Rhythm Pharmaceuticals (NASDAQ:RYTM) CFO Hunter Smith Sells 3,569 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 3,569 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $101.38, for a total value of $361,825.22. Following the transaction, the chief financial officer owned 114,897 shares of the company’s stock, valued at $11,648,257.86. The trade was a 3.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Rhythm Pharmaceuticals Stock Up 1.8%

Rhythm Pharmaceuticals stock traded up $1.86 during midday trading on Thursday, reaching $103.16. The stock had a trading volume of 611,352 shares, compared to its average volume of 613,205. The firm has a market capitalization of $6.88 billion, a PE ratio of -33.28 and a beta of 2.00. Rhythm Pharmaceuticals, Inc. has a 12 month low of $45.90 and a 12 month high of $122.20. The firm’s 50-day moving average price is $105.69 and its 200 day moving average price is $103.23.

Wall Street Analyst Weigh In

RYTM has been the topic of a number of analyst reports. The Goldman Sachs Group boosted their target price on shares of Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the company a “buy” rating in a report on Friday, December 12th. Royal Bank Of Canada initiated coverage on Rhythm Pharmaceuticals in a research report on Wednesday. They issued an “outperform” rating for the company. UBS Group reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, December 17th. Oppenheimer downgraded Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. Finally, HC Wainwright lifted their target price on Rhythm Pharmaceuticals from $123.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC grew its position in Rhythm Pharmaceuticals by 148.2% during the first quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock worth $2,085,000 after buying an additional 23,506 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 valued at $1,874,000 after acquiring an additional 2,126 shares during the last quarter. CWM LLC grew its holdings in shares of Rhythm Pharmaceuticals by 19.6% during the second quarter. CWM LLC now owns 3,091 shares of the company’s stock worth $195,000 after purchasing an additional 507 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Rhythm Pharmaceuticals by 98.4% during the second quarter. Allianz Asset Management GmbH now owns 12,100 shares of the company’s stock worth $765,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Rhythm Pharmaceuticals by 3.0% in the second quarter. Teacher Retirement System of Texas now owns 12,772 shares of the company’s stock worth $807,000 after purchasing an additional 368 shares during the last quarter.

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.