Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Sells $99,723.54 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 1,678 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $99,723.54. Following the completion of the transaction, the chief financial officer now directly owns 101,186 shares of the company’s stock, valued at approximately $6,013,483.98. The trade was a 1.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock opened at $60.01 on Friday. The stock’s 50-day moving average is $57.37 and its 200 day moving average is $53.19. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. The firm had revenue of $33.20 million for the quarter, compared to analysts’ expectations of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company’s revenue for the quarter was up 47.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.76) EPS. Analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RYTM has been the subject of several recent research reports. TD Cowen upped their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. JMP Securities restated a “market outperform” rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. The Goldman Sachs Group raised their price target on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. HC Wainwright reissued a “buy” rating and issued a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Finally, Bank of America raised their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its stake in Rhythm Pharmaceuticals by 3.5% in the second quarter. The Manufacturers Life Insurance Company now owns 49,291 shares of the company’s stock valued at $2,024,000 after purchasing an additional 1,667 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Rhythm Pharmaceuticals by 21.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 19,321 shares of the company’s stock worth $1,012,000 after purchasing an additional 3,400 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Rhythm Pharmaceuticals by 26.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 15,057 shares of the company’s stock valued at $789,000 after buying an additional 3,137 shares during the period. ORG Wealth Partners LLC bought a new stake in Rhythm Pharmaceuticals in the 3rd quarter valued at about $63,000. Finally, Creative Planning acquired a new position in Rhythm Pharmaceuticals during the 3rd quarter worth approximately $450,000.

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.