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

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 2,215 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was 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. This trade represents a 1.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Rhythm Pharmaceuticals Trading Up 0.8 %

RYTM traded up $0.45 on Wednesday, reaching $58.00. The stock had a trading volume of 374,320 shares, compared to its average volume of 471,501. The business’s 50-day moving average price is $57.06 and its two-hundred day moving average price is $53.86. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The company has a market cap of $3.56 billion, a P/E ratio of -13.39 and a beta of 2.14.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Creative Planning purchased a new position in shares of Rhythm Pharmaceuticals during the 3rd quarter valued at approximately $450,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Rhythm Pharmaceuticals by 4.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 100,961 shares of the company’s stock valued at $5,289,000 after purchasing an additional 4,583 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after purchasing an additional 391 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Rhythm Pharmaceuticals by 64.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,758 shares of the company’s stock worth $616,000 after purchasing an additional 4,595 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Rhythm Pharmaceuticals by 19.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 41,368 shares of the company’s stock worth $2,167,000 after purchasing an additional 6,741 shares during the last quarter.

Analyst Upgrades and Downgrades

RYTM has been the topic of a number of research reports. 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 raised their price target on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Jefferies Financial Group assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Wednesday. Finally, The Goldman Sachs Group boosted their target price 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. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Rhythm Pharmaceuticals has a consensus 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.