Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO David P. Meeker Sells 9,896 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO David P. Meeker sold 9,896 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $566,249.12. Following the completion of the transaction, the chief executive officer now directly owns 201,281 shares in the company, valued at $11,517,298.82. This trade represents a 4.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Rhythm Pharmaceuticals Stock Up 0.8 %

RYTM stock opened at $58.00 on Thursday. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of -13.39 and a beta of 2.14. The firm’s fifty day simple moving average is $57.06 and its two-hundred day simple moving average is $53.86.

Wall Street Analysts Forecast Growth

RYTM has been the topic of several research analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 price target on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 target price on the stock. 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. TD Cowen upped their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 target price for the company. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.09.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Creative Planning bought a new stake in Rhythm Pharmaceuticals in the third quarter worth about $450,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of Rhythm Pharmaceuticals by 4.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 100,961 shares of the company’s stock valued at $5,289,000 after buying an additional 4,583 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 worth $114,000 after buying an additional 391 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of Rhythm Pharmaceuticals by 64.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,758 shares of the company’s stock worth $616,000 after acquiring an additional 4,595 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Rhythm Pharmaceuticals by 19.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 41,368 shares of the company’s stock valued at $2,167,000 after acquiring an additional 6,741 shares during the period.

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.