Hunter Smith Sells 2,766 Shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 2,766 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $98.61, for a total value of $272,755.26. Following the completion of the transaction, the chief financial officer directly owned 120,058 shares in the company, valued at approximately $11,838,919.38. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $98.07 on Friday. The firm has a market cap of $6.55 billion, a price-to-earnings ratio of -31.64 and a beta of 2.00. The stock has a 50-day simple moving average of $106.15 and a 200-day simple moving average of $102.81. Rhythm Pharmaceuticals, Inc. has a 52-week low of $45.90 and a 52-week high of $122.20.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Rhythm Pharmaceuticals by 24.3% during the 4th quarter. Vanguard Group Inc. now owns 6,210,916 shares of the company’s stock worth $664,816,000 after purchasing an additional 1,214,489 shares during the last quarter. RA Capital Management L.P. grew its holdings in Rhythm Pharmaceuticals by 2.2% in the 3rd quarter. RA Capital Management L.P. now owns 5,681,359 shares of the company’s stock valued at $573,760,000 after buying an additional 120,000 shares during the last quarter. State Street Corp increased its position in Rhythm Pharmaceuticals by 8.4% in the 4th quarter. State Street Corp now owns 2,198,615 shares of the company’s stock worth $235,340,000 after buying an additional 169,964 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Rhythm Pharmaceuticals by 2.5% during the third quarter. Federated Hermes Inc. now owns 1,727,885 shares of the company’s stock worth $174,499,000 after buying an additional 41,391 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Rhythm Pharmaceuticals by 21.5% during the second quarter. Westfield Capital Management Co. LP now owns 1,629,468 shares of the company’s stock worth $102,966,000 after buying an additional 288,376 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have recently commented on RYTM. Oppenheimer lowered shares of Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. Guggenheim upped their price objective on shares of Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Zacks Research lowered Rhythm Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. UBS Group reaffirmed a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 17th. Finally, Wells Fargo & Company increased 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. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $131.29.

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.