Hunter Smith Sells 1,592 Shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 1,592 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $98.23, for a total value of $156,382.16. Following the transaction, the chief financial officer directly owned 118,466 shares of the company’s stock, valued at $11,636,915.18. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Rhythm Pharmaceuticals Stock Up 2.1%

NASDAQ:RYTM opened at $98.07 on Friday. Rhythm Pharmaceuticals, Inc. has a twelve month low of $45.90 and a twelve month high of $122.20. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of -31.64 and a beta of 2.00. The stock’s 50 day moving average price is $106.15 and its two-hundred day moving average price is $102.81.

Wall Street Analyst Weigh In

Several analysts have issued reports on RYTM shares. HC Wainwright upped their price target on shares of Rhythm Pharmaceuticals from $123.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Canaccord Genuity Group upped 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. Guggenheim lifted their price target on Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 22nd. Finally, Oppenheimer cut Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $131.29.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Rhythm Pharmaceuticals by 39.2% during the third quarter. Vanguard Group Inc. now owns 4,996,427 shares of the company’s stock worth $504,589,000 after acquiring an additional 1,407,313 shares during the period. Alliancebernstein L.P. lifted its holdings in Rhythm Pharmaceuticals by 1,493.8% during the 3rd quarter. Alliancebernstein L.P. now owns 979,682 shares of the company’s stock worth $98,938,000 after purchasing an additional 918,212 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Rhythm Pharmaceuticals by 445.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 783,559 shares of the company’s stock worth $49,513,000 after purchasing an additional 639,919 shares during the last quarter. Capital Research Global Investors bought a new stake in Rhythm Pharmaceuticals in the 3rd quarter valued at $60,417,000. Finally, Jennison Associates LLC grew its holdings in Rhythm Pharmaceuticals by 123.2% in the 4th quarter. Jennison Associates LLC now owns 918,567 shares of the company’s stock valued at $98,323,000 after buying an additional 507,017 shares in the last quarter.

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.