Rhythm Pharmaceuticals (NASDAQ:RYTM) CFO Sells $344,149.53 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 3,247 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $105.99, for a total value of $344,149.53. Following the completion of the sale, the chief financial officer owned 128,918 shares of the company’s stock, valued at $13,664,018.82. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Rhythm Pharmaceuticals Stock Down 0.3%

Shares of RYTM traded down $0.26 during midday trading on Friday, reaching $103.61. 1,034,870 shares of the stock were exchanged, compared to its average volume of 630,087. The stock’s 50 day simple moving average is $106.70 and its 200 day simple moving average is $102.26. The company has a market cap of $6.91 billion, a P/E ratio of -33.42 and a beta of 2.00. Rhythm Pharmaceuticals, Inc. has a twelve month low of $45.90 and a twelve month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.10). Rhythm Pharmaceuticals had a negative return on equity of 433.21% and a negative net margin of 110.32%.The business had revenue of $51.30 million during the quarter, compared to analyst estimates of $50.71 million. As a group, analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RYTM shares. Wells Fargo & Company lifted their price objective on Rhythm Pharmaceuticals from $129.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Oppenheimer downgraded Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Thursday, December 11th. Canaccord Genuity Group raised their target price on shares of Rhythm Pharmaceuticals from $114.00 to $141.00 and gave the company a “buy” rating in a report on Friday, December 12th. Finally, Citizens Jmp boosted their target price on shares of Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the company a “market outperform” rating in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.29.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RYTM. EverSource Wealth Advisors LLC grew its holdings in shares of Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Rhythm Pharmaceuticals by 97.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after purchasing an additional 141 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Rhythm Pharmaceuticals by 1,110.3% in the third quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock valued at $35,000 after buying an additional 322 shares in the last quarter. Optiver Holding B.V. grew its stake in shares of Rhythm Pharmaceuticals by 65.2% during the third quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock worth $37,000 after buying an additional 144 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Rhythm Pharmaceuticals by 73.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after buying an additional 145 shares in the last quarter.

About Rhythm Pharmaceuticals

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.