Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith Sells 1,296 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 1,296 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $57.51, for a total transaction of $74,532.96. Following the completion of the sale, the chief financial officer now directly owns 106,295 shares in the company, valued at $6,113,025.45. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM opened at $57.58 on Wednesday. The company has a market cap of $3.54 billion, a price-to-earnings ratio of -13.30 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The firm has a fifty day moving average price of $57.22 and a two-hundred day moving average price of $53.42.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RYTM. Oppenheimer initiated coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an “outperform” rating and a $76.00 target price for the company. Needham & Company LLC boosted their price objective on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Guggenheim began coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They set a “buy” rating and a $70.00 price objective on the stock. TD Cowen lifted their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $68.09.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RYTM. Loomis Sayles & Co. L P purchased a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at about $33,353,000. Alkeon Capital Management LLC raised its stake in Rhythm Pharmaceuticals by 16.8% in the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock valued at $61,176,000 after purchasing an additional 167,700 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Rhythm Pharmaceuticals by 14.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock valued at $58,208,000 after purchasing an additional 143,800 shares during the last quarter. Barclays PLC lifted its position in Rhythm Pharmaceuticals by 79.6% during the third quarter. Barclays PLC now owns 106,397 shares of the company’s stock valued at $5,574,000 after purchasing an additional 47,166 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. grew its stake in Rhythm Pharmaceuticals by 1.9% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock worth $126,624,000 after buying an additional 45,648 shares in the last quarter.

About Rhythm Pharmaceuticals

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.