Christopher Paul German Sells 635 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German sold 635 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the completion of the sale, the chief accounting officer now directly owns 2,070 shares in the company, valued at approximately $118,445.40. This trade represents a 23.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Rhythm Pharmaceuticals Stock Down 0.4 %

Shares of RYTM stock opened at $57.74 on Friday. The stock has a 50-day simple moving average of $57.10 and a 200 day simple moving average of $53.89. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58.

Analysts Set New Price Targets

Several research firms have commented on RYTM. Oppenheimer started coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an “outperform” rating and a $76.00 target price for the company. Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 target price on shares of Rhythm Pharmaceuticals in a research note on Wednesday. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. Finally, JMP Securities reissued a “market outperform” rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $68.09.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Large investors have recently made changes to their positions in the business. Creative Planning bought a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter worth approximately $450,000. Hennion & Walsh Asset Management Inc. grew its position in Rhythm Pharmaceuticals by 4.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 100,961 shares of the company’s stock worth $5,289,000 after buying an additional 4,583 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after buying an additional 391 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Rhythm Pharmaceuticals by 64.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,758 shares of the company’s stock valued at $616,000 after acquiring an additional 4,595 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 19.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 41,368 shares of the company’s stock worth $2,167,000 after acquiring an additional 6,741 shares in the last quarter.

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.