Rhythm Pharmaceuticals (NASDAQ:RYTM) EVP Yann Mazabraud Sells 57,000 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Yann Mazabraud sold 57,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $116.15, for a total transaction of $6,620,550.00. Following the transaction, the executive vice president owned 55,655 shares of the company’s stock, valued at $6,464,328.25. This represents a 50.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rhythm Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ:RYTM opened at $115.48 on Friday. The company has a market cap of $7.91 billion, a PE ratio of -37.13 and a beta of 1.92. The company’s 50-day moving average price is $105.44 and its 200 day moving average price is $96.45. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $74.50 and a fifty-two week high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative net margin of 85.59% and a negative return on equity of 159.87%. The firm had revenue of $71.25 million during the quarter, compared to analyst estimates of $67.66 million. During the same period in the previous year, the business posted ($0.75) EPS. Rhythm Pharmaceuticals’s revenue was up 46.9% on a year-over-year basis. As a group, equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -2.82 EPS for the current year.

Wall Street Analyst Weigh In

RYTM has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Friday, July 17th. Wall Street Zen upgraded Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. TD Cowen reaffirmed a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Royal Bank Of Canada lifted their target price on Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, Canaccord Genuity Group set a $154.00 price target on Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Fifteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.44.

Institutional Trading of Rhythm Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in RYTM. GAMMA Investing LLC lifted its stake in shares of Rhythm Pharmaceuticals by 36.3% in the 2nd quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after acquiring an additional 97 shares during the period. Xponance LLC increased its stake in shares of Rhythm Pharmaceuticals by 2.6% during the fourth quarter. Xponance LLC now owns 4,269 shares of the company’s stock valued at $457,000 after acquiring an additional 107 shares during the period. Smartleaf Asset Management LLC raised its holdings in Rhythm Pharmaceuticals by 39.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock worth $43,000 after purchasing an additional 113 shares in the last quarter. Captrust Financial Advisors raised its holdings in Rhythm Pharmaceuticals by 0.7% during the second quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock worth $1,104,000 after purchasing an additional 114 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its holdings in 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 purchasing 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.