Rhythm Pharmaceuticals (NASDAQ:RYTM) CFO Sells $358,588.86 in Stock

by · The Markets Daily

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Free Report) CFO Hunter Smith sold 3,381 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $106.06, for a total transaction of $358,588.86. Following the transaction, the chief financial officer directly owned 125,537 shares in the company, valued at $13,314,454.22. This trade represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM stock traded down $0.26 on Friday, hitting $103.61. 1,034,870 shares of the company’s stock traded hands, compared to its average volume of 630,087. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of -33.42 and a beta of 2.00. The company’s fifty day simple moving average is $106.70 and its 200 day simple moving average is $102.26. Rhythm Pharmaceuticals, Inc. has a one year low of $45.90 and a one year high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.10). Rhythm Pharmaceuticals had a negative return on equity of 433.21% and a negative net margin of 110.32%.The business had revenue of $51.30 million during the quarter, compared to the consensus estimate of $50.71 million. As a group, sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RYTM has been the subject of a number of analyst reports. TD Cowen reissued a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, December 11th. Canaccord Genuity Group increased their price target on shares of Rhythm Pharmaceuticals from $114.00 to $141.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Thursday, December 11th. Finally, Oppenheimer cut Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.29.

Check Out Our Latest Research Report on RYTM

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of institutional investors have recently bought and sold shares of RYTM. EverSource Wealth Advisors LLC lifted its holdings in Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 200 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Rhythm Pharmaceuticals by 97.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after acquiring an additional 141 shares during the period. SBI Securities Co. Ltd. raised its position in shares of Rhythm Pharmaceuticals by 73.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 145 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Rhythm Pharmaceuticals by 1,110.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock valued at $35,000 after purchasing an additional 322 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Rhythm Pharmaceuticals by 48.6% during the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after purchasing an additional 118 shares in the last quarter.

Rhythm Pharmaceuticals Company Profile

(Get Free Report)

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.

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