Rhythm Pharmaceuticals (NASDAQ:RYTM) CFO Sells $156,382.16 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 1,592 shares of Rhythm Pharmaceuticals stock in a transaction 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 approximately $11,636,915.18. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM traded down $2.41 on Thursday, hitting $96.06. The stock had a trading volume of 1,150,390 shares, compared to its average volume of 591,523. The firm’s 50 day moving average price is $106.28 and its 200-day moving average price is $102.72. Rhythm Pharmaceuticals, Inc. has a twelve month low of $45.90 and a twelve month high of $122.20. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of -30.99 and a beta of 2.00.

Analysts Set New Price Targets

Several analysts have recently weighed in on RYTM shares. Zacks Research lowered shares of Rhythm Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. HC Wainwright increased their price target on Rhythm Pharmaceuticals from $123.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, January 22nd. Wall Street Zen downgraded Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Citizens Jmp boosted their price objective on Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the stock a “market outperform” rating in a research note on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.29.

Institutional Trading of Rhythm Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of RYTM. EverSource Wealth Advisors LLC lifted its holdings in Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Rhythm Pharmaceuticals by 97.2% in the 3rd 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. SBI Securities Co. Ltd. raised its position in shares of 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 acquiring an additional 145 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Rhythm Pharmaceuticals by 1,110.3% during the third quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock worth $35,000 after acquiring an additional 322 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Rhythm Pharmaceuticals by 48.6% during the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after acquiring an additional 118 shares during the period.

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.