Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith Sells 2,215 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 2,215 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $126,742.30. Following the completion of the transaction, the chief financial officer now owns 109,929 shares of the company’s stock, valued at $6,290,137.38. The trade was a 1.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM stock opened at $58.00 on Thursday. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of -13.39 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The company has a 50 day moving average price of $57.06 and a 200 day moving average price of $53.86.

Institutional Trading of Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new stake in Rhythm Pharmaceuticals during the fourth quarter worth about $72,000. Voloridge Investment Management LLC increased its position in Rhythm Pharmaceuticals by 7.7% during the 4th quarter. Voloridge Investment Management LLC now owns 380,537 shares of the company’s stock worth $21,302,000 after purchasing an additional 27,214 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Rhythm Pharmaceuticals by 2.3% in the fourth quarter. Two Sigma Advisers LP now owns 13,100 shares of the company’s stock valued at $733,000 after buying an additional 300 shares during the period. State of Wyoming acquired a new position in Rhythm Pharmaceuticals during the fourth quarter valued at approximately $61,000. Finally, Stempoint Capital LP grew its stake in Rhythm Pharmaceuticals by 404.1% during the fourth quarter. Stempoint Capital LP now owns 208,016 shares of the company’s stock worth $11,645,000 after buying an additional 166,748 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $69.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. TD Cowen boosted their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group increased their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Oppenheimer assumed coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $64.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Wednesday. One research 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, the company currently 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.