Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Sells 1,296 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 1,296 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $57.51, for a total value of $74,532.96. Following the sale, the chief financial officer now owns 106,295 shares of the company’s stock, valued at approximately $6,113,025.45. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Rhythm Pharmaceuticals Trading Down 1.5 %

NASDAQ RYTM traded down $0.89 during trading hours on Tuesday, hitting $57.58. The company’s stock had a trading volume of 289,541 shares, compared to its average volume of 495,983. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58. The company has a market capitalization of $3.54 billion, a PE ratio of -13.30 and a beta of 2.14. The company’s 50-day simple moving average is $57.22 and its two-hundred day simple moving average is $53.42.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. lifted its position in Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after acquiring an additional 400 shares in the last quarter. Raleigh Capital Management Inc. bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $37,000. R Squared Ltd bought a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $44,000. Finally, ORG Wealth Partners LLC bought a new position in Rhythm Pharmaceuticals in the 3rd quarter valued at about $63,000.

Analyst Ratings Changes

A number of analysts have weighed in on RYTM shares. TD Cowen increased their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. JMP Securities reiterated a “market outperform” rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. HC Wainwright reiterated a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Needham & Company LLC raised their target price on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Bank of America raised their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $68.09.

Rhythm Pharmaceuticals Company Profile

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.