Yann Mazabraud Sells 75,000 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Yann Mazabraud sold 75,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $51.48, for a total value of $3,861,000.00. Following the completion of the transaction, the executive vice president now directly owns 40,370 shares in the company, valued at approximately $2,078,247.60. This represents a 65.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rhythm Pharmaceuticals Trading Up 5.6 %

Rhythm Pharmaceuticals stock opened at $55.21 on Thursday. The firm has a market cap of $3.49 billion, a P/E ratio of -12.75 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The firm has a 50-day moving average of $55.51 and a 200-day moving average of $54.81.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The business had revenue of $41.83 million during the quarter, compared to analysts’ expectations of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. Research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Institutional Trading of Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RYTM. Loomis Sayles & Co. L P purchased a new position in Rhythm Pharmaceuticals during the 3rd quarter valued at $33,353,000. Janus Henderson Group PLC boosted its stake in shares of Rhythm Pharmaceuticals by 103.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock valued at $68,309,000 after purchasing an additional 621,432 shares in the last quarter. Marshall Wace LLP increased its position in shares of Rhythm Pharmaceuticals by 70.4% during the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock valued at $38,783,000 after buying an additional 286,188 shares during the period. Norges Bank bought a new position in Rhythm Pharmaceuticals in the fourth quarter worth about $11,512,000. Finally, JPMorgan Chase & Co. raised its stake in Rhythm Pharmaceuticals by 224.3% in the fourth quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company’s stock worth $14,811,000 after buying an additional 182,993 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Morgan Stanley reiterated an “overweight” rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Jefferies Financial Group started coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target on the stock. Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an “outperform” rating and a $76.00 price target on the stock. The Goldman Sachs Group upped their price objective 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. Finally, Stifel Nicolaus assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They issued a “buy” rating and a $78.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.46.

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.