Rhythm Pharmaceuticals (NASDAQ:RYTM) CFO Sells $344,149.53 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 3,247 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $105.99, for a total transaction of $344,149.53. Following the sale, the chief financial officer owned 128,918 shares in the company, valued at $13,664,018.82. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Rhythm Pharmaceuticals Trading Down 0.3%

RYTM opened at $103.61 on Monday. The stock has a 50-day moving average of $106.59 and a 200 day moving average of $102.56. Rhythm Pharmaceuticals, Inc. has a 12 month low of $45.90 and a 12 month high of $122.20. The firm has a market cap of $6.91 billion, a P/E ratio of -33.42 and a beta of 2.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RYTM. EverSource Wealth Advisors LLC increased its holdings in Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares during the period. Legato Capital Management LLC purchased a new position in shares of Rhythm Pharmaceuticals during the fourth quarter valued at $613,000. Global Retirement Partners LLC raised its holdings in shares of Rhythm Pharmaceuticals by 114.3% in the fourth quarter. Global Retirement Partners LLC now owns 857 shares of the company’s stock valued at $92,000 after acquiring an additional 457 shares in the last quarter. PSP Research LLC bought a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at about $507,000. Finally, Covestor Ltd lifted its stake in Rhythm Pharmaceuticals by 328.9% in the fourth quarter. Covestor Ltd now owns 579 shares of the company’s stock worth $62,000 after acquiring an additional 444 shares during the period.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RYTM. HC Wainwright raised their price target on Rhythm Pharmaceuticals from $123.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Wells Fargo & Company increased their target price on shares of Rhythm Pharmaceuticals from $129.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Needham & Company LLC lifted their price target on shares of Rhythm Pharmaceuticals from $145.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Morgan Stanley reiterated an “overweight” rating and set a $150.00 price target on shares of Rhythm Pharmaceuticals in a report on Thursday, December 11th. Finally, Oppenheimer downgraded shares of Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.29.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.