Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee Sells 4,189 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 4,189 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $58.91, for a total value of $246,773.99. Following the completion of the transaction, the executive vice president now owns 4,409 shares in the company, valued at $259,734.19. This represents a 48.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Jennifer Kayden Lee also recently made the following trade(s):

• On Tuesday, February 4th, Jennifer Kayden Lee sold 1,447 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $59.43, for a total value of $85,995.21.

Rhythm Pharmaceuticals Stock Down 1.5 %

Shares of Rhythm Pharmaceuticals stock opened at $57.58 on Wednesday. The stock has a market capitalization of $3.54 billion, a P/E ratio of -13.30 and a beta of 2.14. The stock has a 50 day moving average price of $57.22 and a two-hundred day moving average price of $53.42. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RYTM shares. Guggenheim started coverage on Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a “buy” rating and a $70.00 target price on the stock. The Goldman Sachs Group upped their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. Oppenheimer initiated coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 target price on the stock. Finally, TD Cowen increased their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.09.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. boosted its position in Rhythm Pharmaceuticals by 1.9% during the third quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock worth $126,624,000 after purchasing an additional 45,648 shares during the period. Geode Capital Management LLC boosted its position in Rhythm Pharmaceuticals by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock worth $65,824,000 after purchasing an additional 3,499 shares during the period. Alkeon Capital Management LLC boosted its position in Rhythm Pharmaceuticals by 16.8% during the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock worth $61,176,000 after purchasing an additional 167,700 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted 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 worth $58,208,000 after purchasing an additional 143,800 shares during the period. Finally, Loomis Sayles & Co. L P bought a new stake in Rhythm Pharmaceuticals during the third quarter worth approximately $33,353,000.

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.