Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Sells $74,532.96 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 1,296 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $57.51, for a total value of $74,532.96. Following the completion of the sale, the chief financial officer now owns 106,295 shares in the company, valued at $6,113,025.45. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rhythm Pharmaceuticals Stock Performance

RYTM stock opened at $57.56 on Friday. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The firm has a market cap of $3.54 billion, a P/E ratio of -13.29 and a beta of 2.14. The stock has a 50-day simple moving average of $57.11 and a 200-day simple moving average of $53.51.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target for the company. Needham & Company LLC upped their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Oppenheimer began coverage on Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an “outperform” rating and a $76.00 price target for the company. Finally, JMP Securities restated a “market outperform” rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $68.09.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RYTM. Exchange Traded Concepts LLC boosted its holdings in Rhythm Pharmaceuticals by 26.3% in the third quarter. Exchange Traded Concepts LLC now owns 15,057 shares of the company’s stock valued at $789,000 after purchasing an additional 3,137 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in Rhythm Pharmaceuticals in the third quarter valued at about $63,000. Creative Planning purchased a new position in Rhythm Pharmaceuticals in the third quarter valued at about $450,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Rhythm Pharmaceuticals by 4.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 100,961 shares of the company’s stock valued at $5,289,000 after purchasing an additional 4,583 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after purchasing an additional 391 shares during the last quarter.

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.