Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German Sells 635 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German sold 635 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $36,334.70. Following the sale, the chief accounting officer now owns 2,070 shares in the company, valued at $118,445.40. The trade was a 23.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Rhythm Pharmaceuticals Stock Performance

NASDAQ:RYTM opened at $56.07 on Friday. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The stock’s fifty day simple moving average is $57.12 and its 200-day simple moving average is $53.97.

Analysts Set New Price Targets

A number of equities research analysts have commented on RYTM shares. Needham & Company LLC reissued a “buy” rating and set a $64.00 price objective on shares of Rhythm Pharmaceuticals in a report on Wednesday. Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an “outperform” rating and a $76.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. JMP Securities reiterated a “market outperform” rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Finally, TD Cowen lifted their target price on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.09.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. increased its stake in shares of Rhythm Pharmaceuticals by 1.9% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock valued at $126,624,000 after acquiring an additional 45,648 shares during the last quarter. Geode Capital Management LLC boosted its stake in Rhythm Pharmaceuticals by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock worth $65,824,000 after acquiring an additional 3,499 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Rhythm Pharmaceuticals by 103.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock valued at $68,309,000 after purchasing an additional 621,432 shares during the period. Alkeon Capital Management LLC increased its stake in Rhythm Pharmaceuticals by 16.8% in the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock valued at $61,176,000 after purchasing an additional 167,700 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Rhythm Pharmaceuticals by 14.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock worth $58,208,000 after purchasing an additional 143,800 shares during the period.

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.