Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee Sells 2,035 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 2,035 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $116,442.70. Following the completion of the sale, the executive vice president now owns 5,858 shares in the company, valued at $335,194.76. This trade represents a 25.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jennifer Kayden Lee also recently made the following trade(s):

• On Wednesday, February 12th, Jennifer Kayden Lee sold 1,815 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $56.39, for a total transaction of $102,347.85.
• On Monday, February 10th, Jennifer Kayden Lee sold 4,189 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $58.91, for a total transaction of $246,773.99.
• On Tuesday, February 4th, Jennifer Kayden Lee sold 1,447 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $59.43, for a total transaction of $85,995.21.

Rhythm Pharmaceuticals Stock Up 0.8 %

Shares of RYTM traded up $0.45 during mid-day trading on Wednesday, hitting $58.00. 374,320 shares of the company’s stock were exchanged, compared to its average volume of 471,501. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of -13.39 and a beta of 2.14. The stock’s 50-day simple moving average is $57.06 and its 200-day simple moving average is $53.86. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. grew its holdings in shares of Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after purchasing an additional 400 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in Rhythm Pharmaceuticals during the fourth quarter worth about $28,000. SBI Securities Co. Ltd. acquired a new stake in Rhythm Pharmaceuticals during the fourth quarter worth about $37,000. R Squared Ltd bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $44,000. Finally, State of Wyoming acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at approximately $61,000.

Analysts Set New Price Targets

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