Rhythm Pharmaceuticals (NASDAQ:RYTM) CFO Sells $358,588.86 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 3,381 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $106.06, for a total transaction of $358,588.86. Following the sale, the chief financial officer directly owned 125,537 shares of the company’s stock, valued at $13,314,454.22. The trade was a 2.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $103.61 on Monday. Rhythm Pharmaceuticals, Inc. has a 1-year low of $45.90 and a 1-year high of $122.20. The stock has a market cap of $6.91 billion, a P/E ratio of -33.42 and a beta of 2.00. The stock’s 50 day simple moving average is $106.59 and its 200-day simple moving average is $102.56.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RYTM shares. Zacks Research cut Rhythm Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Guggenheim boosted their price objective on Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Needham & Company LLC boosted their target price 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group upped their price objective on shares of Rhythm Pharmaceuticals from $114.00 to $141.00 and gave the company a “buy” rating in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $131.29.

Institutional Trading of Rhythm Pharmaceuticals

Several large investors have recently modified their holdings of RYTM. EverSource Wealth Advisors LLC boosted its stake in shares of Rhythm Pharmaceuticals by 303.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 97.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after purchasing an additional 141 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Rhythm Pharmaceuticals by 1,110.3% in the third quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock valued at $35,000 after acquiring an additional 322 shares during the last quarter. Optiver Holding B.V. lifted its stake in shares of Rhythm Pharmaceuticals by 65.2% in the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock valued at $37,000 after purchasing an additional 144 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in Rhythm Pharmaceuticals by 73.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 145 shares in the last quarter.

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.