Hunter C. Smith Sells 1,678 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 1,678 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $99,723.54. Following the completion of the sale, the chief financial officer now directly owns 101,186 shares in the company, valued at $6,013,483.98. This trade represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock traded up $0.54 during midday trading on Tuesday, reaching $59.95. The company had a trading volume of 441,491 shares, compared to its average volume of 515,022. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The firm’s fifty day simple moving average is $57.39 and its 200-day simple moving average is $53.13. The company has a market capitalization of $3.68 billion, a P/E ratio of -13.85 and a beta of 2.14.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. During the same period in the previous year, the company posted ($0.76) earnings per share. The business’s revenue was up 47.6% on a year-over-year basis. On average, analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in shares of Rhythm Pharmaceuticals by 3.5% in the second quarter. The Manufacturers Life Insurance Company now owns 49,291 shares of the company’s stock valued at $2,024,000 after buying an additional 1,667 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in Rhythm Pharmaceuticals by 21.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 19,321 shares of the company’s stock valued at $1,012,000 after acquiring an additional 3,400 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Rhythm Pharmaceuticals by 26.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 15,057 shares of the company’s stock worth $789,000 after purchasing an additional 3,137 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals during the 3rd quarter worth approximately $63,000. Finally, Creative Planning purchased a new stake in shares of Rhythm Pharmaceuticals in the third quarter valued at approximately $450,000.

Analyst Ratings Changes

Several research firms have commented on RYTM. Bank of America upped their price target on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Needham & Company LLC raised their target price on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group boosted their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 5th. HC Wainwright reaffirmed a “buy” rating and set a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Finally, Oppenheimer started coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an “outperform” rating and a $76.00 target price for the company. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $68.09.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.