David P. Meeker Sells 4,278 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO David P. Meeker sold 4,278 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $254,241.54. Following the sale, the chief executive officer now owns 189,927 shares of the company’s stock, valued at approximately $11,287,361.61. This trade represents a 2.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Rhythm Pharmaceuticals Stock Down 1.7 %

NASDAQ:RYTM opened at $60.01 on Friday. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -13.86 and a beta of 2.14. The company’s 50 day moving average price is $57.37 and its 200-day moving average price is $53.19.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business had revenue of $33.20 million during the quarter, compared to analyst estimates of $32.52 million. During the same quarter in the previous year, the firm earned ($0.76) EPS. Rhythm Pharmaceuticals’s revenue was up 47.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RYTM shares. HC Wainwright reaffirmed a “buy” rating and set a $69.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. TD Cowen raised their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Jefferies Financial Group assumed coverage on Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target on the stock. Guggenheim initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $70.00 price objective on the stock. Finally, JMP Securities reissued a “market outperform” rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.09.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Freestone Capital Holdings LLC bought a new position in Rhythm Pharmaceuticals in the fourth quarter valued at about $207,000. Raymond James Financial Inc. purchased a new position in Rhythm Pharmaceuticals during the fourth quarter valued at approximately $218,000. Charles Schwab Investment Management Inc. boosted its holdings in Rhythm Pharmaceuticals by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company’s stock worth $24,645,000 after buying an additional 6,384 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth about $37,000. Finally, SRS Capital Advisors Inc. grew its holdings in Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after buying an additional 400 shares in the last quarter.

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.