Hunter C. Smith Sells 1,678 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 1,678 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $99,723.54. Following the completion of the sale, the chief financial officer now owns 101,186 shares in the company, valued at approximately $6,013,483.98. This trade represents a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Rhythm Pharmaceuticals Price Performance

RYTM opened at $61.02 on Thursday. The business has a fifty day moving average price of $57.37 and a 200 day moving average price of $53.19. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -14.09 and a beta of 2.14.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Rhythm Pharmaceuticals by 79.7% in the 3rd quarter. FMR LLC now owns 50,295 shares of the company’s stock valued at $2,635,000 after purchasing an additional 22,306 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Rhythm Pharmaceuticals by 241.9% in the third quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock valued at $1,707,000 after buying an additional 23,054 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Rhythm Pharmaceuticals by 307.1% in the third quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company’s stock valued at $756,000 after buying an additional 10,882 shares in the last quarter. Creative Planning purchased a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth about $450,000. Finally, Intech Investment Management LLC acquired a new position in shares of Rhythm Pharmaceuticals during the 3rd quarter worth about $649,000.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC boosted their price target on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Bank of America lifted their target price on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Guggenheim initiated coverage on Rhythm Pharmaceuticals in a research note on Monday, October 21st. They set a “buy” rating and a $70.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Finally, JMP Securities reissued a “market outperform” rating and set a $75.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.09.

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.