Yann Mazabraud Sells 75,000 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Yann Mazabraud sold 75,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the completion of the sale, the executive vice president now owns 40,370 shares of the company’s stock, valued at approximately $2,078,247.60. The trade was a 65.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Rhythm Pharmaceuticals Stock Down 0.1 %

Shares of NASDAQ RYTM opened at $52.29 on Wednesday. The firm’s 50-day simple moving average is $55.51 and its 200 day simple moving average is $54.81. The company has a market cap of $3.31 billion, a price-to-earnings ratio of -12.08 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The company had revenue of $41.83 million for the quarter, compared to analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. On average, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

RYTM has been the subject of several research reports. Morgan Stanley reiterated an “overweight” rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Jefferies Financial Group began coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price target for the company. The Goldman Sachs Group increased their price target on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. JMP Securities reissued a “market outperform” rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Finally, Canaccord Genuity Group increased their price target on shares of Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $69.46.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RYTM. Loomis Sayles & Co. L P acquired a new position in Rhythm Pharmaceuticals during the 3rd quarter worth about $33,353,000. Janus Henderson Group PLC boosted its stake in shares of Rhythm Pharmaceuticals by 103.9% in the 4th 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 last quarter. Marshall Wace LLP boosted its stake in shares of Rhythm Pharmaceuticals by 70.4% in the 4th quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock valued at $38,783,000 after purchasing an additional 286,188 shares during the last quarter. Norges Bank bought a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $11,512,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Rhythm Pharmaceuticals by 224.3% in the 4th quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company’s stock valued at $14,811,000 after purchasing an additional 182,993 shares during the last quarter.

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.