Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Sells $36,334.70 in Stock

by · The Markets Daily

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Free Report) CAO Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 2,070 shares in the company, valued at approximately $118,445.40. This represents a 23.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Rhythm Pharmaceuticals Stock Down 2.9 %

NASDAQ RYTM opened at $56.07 on Friday. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The stock’s 50 day moving average is $57.12 and its two-hundred day moving average is $53.97.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RYTM shares. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $64.00 price objective on shares of Rhythm Pharmaceuticals in a report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. The Goldman Sachs Group lifted their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Oppenheimer initiated coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price target for the company. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $68.09.

View Our Latest Stock Report on Rhythm Pharmaceuticals

Institutional Trading of Rhythm Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. raised its stake in Rhythm Pharmaceuticals by 1.9% during the third quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock worth $126,624,000 after acquiring an additional 45,648 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Rhythm Pharmaceuticals by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock worth $65,824,000 after purchasing an additional 3,499 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Rhythm Pharmaceuticals by 103.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock worth $68,309,000 after purchasing an additional 621,432 shares in the last quarter. Alkeon Capital Management LLC lifted its holdings in Rhythm Pharmaceuticals by 16.8% during the 3rd 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 during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position 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 valued at $58,208,000 after buying an additional 143,800 shares in the last quarter.

Rhythm Pharmaceuticals Company Profile

(Get Free Report)

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.

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