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 that occurred 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 owns 201,281 shares of the company’s stock, valued at approximately $11,517,298.82. The trade was a 4.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rhythm Pharmaceuticals Price Performance

NASDAQ:RYTM opened at $58.00 on Thursday. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The business has a fifty day moving average price of $57.06 and a 200-day moving average price of $53.86. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of -13.39 and a beta of 2.14.

Institutional Trading of Rhythm Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of RYTM. Creative Planning bought a new position in shares of Rhythm Pharmaceuticals during the 3rd quarter valued at approximately $450,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of Rhythm Pharmaceuticals by 4.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 100,961 shares of the company’s stock worth $5,289,000 after purchasing an additional 4,583 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Rhythm Pharmaceuticals by 21.5% during the 3rd 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 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 valued at $616,000 after buying an additional 4,595 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Rhythm Pharmaceuticals by 19.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 41,368 shares of the company’s stock worth $2,167,000 after buying an additional 6,741 shares during the period.

Analyst Upgrades and Downgrades

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

About Rhythm Pharmaceuticals

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.