Rhythm Pharmaceuticals (NASDAQ:RYTM) CFO Sells $344,149.53 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 3,247 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $105.99, for a total transaction of $344,149.53. Following the transaction, the chief financial officer directly owned 128,918 shares of the company’s stock, valued at $13,664,018.82. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Rhythm Pharmaceuticals Stock Down 0.3%

RYTM traded down $0.26 during trading hours on Friday, hitting $103.61. 1,034,870 shares of the company’s stock were exchanged, compared to its average volume of 630,087. The stock 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 1-year low of $45.90 and a 1-year high of $122.20. The stock’s 50-day moving average is $106.70 and its two-hundred day moving average is $102.26.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued 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). Rhythm Pharmaceuticals had a negative return on equity of 433.21% and a negative net margin of 110.32%.The business had revenue of $51.30 million for the quarter, compared to the consensus estimate of $50.71 million. On average, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of RYTM. EverSource Wealth Advisors LLC lifted its stake in shares of 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 during the last quarter. Legato Capital Management LLC acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $613,000. Global Retirement Partners LLC raised its holdings in Rhythm Pharmaceuticals by 114.3% in the 4th quarter. Global Retirement Partners LLC now owns 857 shares of the company’s stock valued at $92,000 after acquiring an additional 457 shares during the period. PSP Research LLC acquired a new stake in Rhythm Pharmaceuticals during the fourth quarter worth approximately $507,000. Finally, Covestor Ltd boosted its holdings in shares of Rhythm Pharmaceuticals by 328.9% during the fourth quarter. Covestor Ltd now owns 579 shares of the company’s stock worth $62,000 after acquiring an additional 444 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, December 17th. Zacks Research downgraded Rhythm Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Canaccord Genuity Group boosted their target price on shares of Rhythm Pharmaceuticals from $114.00 to $141.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 price target on shares of Rhythm Pharmaceuticals in a research report on Thursday, December 11th. Finally, Citizens Jmp lifted their price objective on shares of Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the company a “market outperform” rating in a research report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.29.

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.