Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO Sells $566,249.12 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO David P. Meeker sold 9,896 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $566,249.12. Following the completion of the sale, the chief executive officer now owns 201,281 shares of the company’s stock, valued at $11,517,298.82. This represents a 4.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Rhythm Pharmaceuticals Stock Performance

RYTM opened at $56.07 on Friday. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58. The firm has a market capitalization of $3.45 billion, a PE ratio of -12.95 and a beta of 2.14. The business’s 50-day simple moving average is $57.12 and its 200 day simple moving average is $53.97.

Analyst Ratings Changes

A number of research firms have issued reports on RYTM. Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a “buy” rating and a $80.00 target price for the company. TD Cowen boosted 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. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Finally, The Goldman Sachs Group boosted their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.09.

Institutional Trading of Rhythm Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of RYTM. Creative Planning bought a new stake in Rhythm Pharmaceuticals in the third quarter valued at approximately $450,000. Hennion & Walsh Asset Management Inc. raised its stake in Rhythm Pharmaceuticals by 4.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 100,961 shares of the company’s stock valued at $5,289,000 after buying an additional 4,583 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after buying an additional 391 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in Rhythm Pharmaceuticals by 64.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,758 shares of the company’s stock valued at $616,000 after buying an additional 4,595 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in Rhythm Pharmaceuticals by 19.5% in the third quarter. Harbor Capital Advisors Inc. now owns 41,368 shares of the company’s stock valued at $2,167,000 after buying an additional 6,741 shares during the period.

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.