Rhythm Pharmaceuticals (NASDAQ:RYTM) CFO Hunter Smith Sells 3,381 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 3,381 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $106.06, for a total value of $358,588.86. Following the completion of the transaction, the chief financial officer owned 125,537 shares in the company, valued at $13,314,454.22. This trade represents a 2.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rhythm Pharmaceuticals Stock Down 0.3%

Shares of Rhythm Pharmaceuticals stock opened at $103.61 on Friday. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of -33.42 and a beta of 2.00. Rhythm Pharmaceuticals, Inc. has a 52-week low of $45.90 and a 52-week high of $122.20. The company’s 50-day simple moving average is $106.59 and its 200-day simple moving average is $102.36.

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

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Rhythm Pharmaceuticals by 303.0% in 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 in the last quarter. Smartleaf Asset Management LLC raised its holdings in Rhythm Pharmaceuticals by 97.2% in the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after buying an additional 141 shares during the period. Farther Finance Advisors LLC lifted its position in Rhythm Pharmaceuticals by 1,110.3% during 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 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 period. Finally, SBI Securities Co. Ltd. increased its position in shares of Rhythm Pharmaceuticals by 73.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 145 shares in the last quarter.

Wall Street Analyst Weigh In

RYTM has been the subject of several research reports. The Goldman Sachs Group lifted their price objective on Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Morgan Stanley reissued an “overweight” rating and issued a $150.00 price target on shares of Rhythm Pharmaceuticals in a report on Thursday, December 11th. Wall Street Zen lowered Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Oppenheimer cut Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. Finally, Citigroup restated an “outperform” rating on shares of Rhythm Pharmaceuticals in a 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 assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price 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.