Rhythm Pharmaceuticals (NASDAQ:RYTM) CAO Christopher Paul German Sells 5,614 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German sold 5,614 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $89.56, for a total value of $502,789.84. Following the completion of the sale, the chief accounting officer directly owned 160 shares of the company’s stock, valued at approximately $14,329.60. This trade represents a 97.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Rhythm Pharmaceuticals Trading Up 2.3%

Shares of RYTM stock opened at $93.52 on Friday. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of -30.07 and a beta of 2.06. Rhythm Pharmaceuticals, Inc. has a 1-year low of $45.90 and a 1-year high of $122.20. The stock’s fifty day simple moving average is $101.91 and its 200-day simple moving average is $103.31.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.06. Rhythm Pharmaceuticals had a negative return on equity of 266.56% and a negative net margin of 103.57%.The firm had revenue of $57.25 million during the quarter, compared to the consensus estimate of $56.16 million. During the same period in the prior year, the business earned ($0.72) EPS. The business’s revenue for the quarter was up 36.9% on a year-over-year basis. On average, sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of RYTM. Invesco Ltd. boosted its holdings in Rhythm Pharmaceuticals by 102.8% in the fourth quarter. Invesco Ltd. now owns 291,150 shares of the company’s stock worth $31,165,000 after purchasing an additional 147,595 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Rhythm Pharmaceuticals by 94.1% in the fourth quarter. Empowered Funds LLC now owns 4,164 shares of the company’s stock worth $446,000 after buying an additional 2,019 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $1,117,000. Wellington Management Group LLP boosted its stake in shares of Rhythm Pharmaceuticals by 922.0% during the 4th quarter. Wellington Management Group LLP now owns 250,156 shares of the company’s stock worth $26,777,000 after acquiring an additional 225,679 shares in the last quarter. Finally, SummitTX Capital L.P. increased its holdings in shares of Rhythm Pharmaceuticals by 580.2% during the 4th quarter. SummitTX Capital L.P. now owns 80,729 shares of the company’s stock valued at $8,641,000 after acquiring an additional 68,860 shares during the last quarter.

Analyst Ratings Changes

Several analysts recently commented on RYTM shares. Citizens Jmp raised their price target on shares of Rhythm Pharmaceuticals from $167.00 to $176.00 and gave the stock a “market outperform” rating in a report on Friday, February 27th. Needham & Company LLC decreased their target price on shares of Rhythm Pharmaceuticals from $148.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. UBS Group restated a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, December 17th. Citigroup reiterated an “outperform” rating on shares of Rhythm Pharmaceuticals in a report on Friday, December 12th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $125.00 target price on shares of Rhythm Pharmaceuticals in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.07.

Rhythm Pharmaceuticals Company Profile

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.