Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Sells 1,678 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 1,678 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $99,723.54. Following the completion of the sale, the chief financial officer now directly owns 101,186 shares in the company, valued at $6,013,483.98. This trade represents a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock traded up $0.54 during mid-day trading on Tuesday, hitting $59.95. 441,491 shares of the stock traded hands, compared to its average volume of 515,022. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58. The stock has a market cap of $3.68 billion, a P/E ratio of -13.85 and a beta of 2.14. The stock’s fifty day moving average is $57.39 and its two-hundred day moving average is $53.13.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. The company had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Rhythm Pharmaceuticals’s revenue for the quarter was up 47.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.76) earnings per share. As a group, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of large investors have recently made changes to their positions in RYTM. Raleigh Capital Management Inc. purchased a new position in Rhythm Pharmaceuticals during the 4th quarter worth $28,000. R Squared Ltd acquired a new position in shares of Rhythm Pharmaceuticals during the fourth quarter valued at about $44,000. ORG Wealth Partners LLC purchased a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at approximately $63,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after purchasing an additional 391 shares in the last quarter. Finally, KBC Group NV grew its position in Rhythm Pharmaceuticals by 78.2% during the 4th quarter. KBC Group NV now owns 2,251 shares of the company’s stock worth $126,000 after purchasing an additional 988 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. HC Wainwright restated a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Jefferies Financial Group began coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 target price for the company. JMP Securities reaffirmed a “market outperform” rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group boosted their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $68.09.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.