Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Sells $246,773.99 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 4,189 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $58.91, for a total value of $246,773.99. Following the sale, the executive vice president now owns 4,409 shares of the company’s stock, valued at approximately $259,734.19. The trade was a 48.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Jennifer Kayden Lee also recently made the following trade(s):

• On Tuesday, February 4th, Jennifer Kayden Lee sold 1,447 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $59.43, for a total value of $85,995.21.

Rhythm Pharmaceuticals Stock Down 1.5 %

RYTM stock traded down $0.89 during mid-day trading on Tuesday, reaching $57.58. 289,541 shares of the company traded hands, compared to its average volume of 495,983. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of -13.30 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The firm’s 50 day moving average price is $57.22 and its 200 day moving average price is $53.42.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P bought a new position in shares of Rhythm Pharmaceuticals during the 3rd quarter worth approximately $33,353,000. Alkeon Capital Management LLC lifted its position in shares of Rhythm Pharmaceuticals by 16.8% during the 3rd quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock worth $61,176,000 after buying an additional 167,700 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Rhythm Pharmaceuticals by 14.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock worth $58,208,000 after buying an additional 143,800 shares in the last quarter. Barclays PLC lifted its position in shares of Rhythm Pharmaceuticals by 79.6% during the 3rd quarter. Barclays PLC now owns 106,397 shares of the company’s stock worth $5,574,000 after buying an additional 47,166 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. lifted its position in shares of Rhythm Pharmaceuticals by 1.9% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock worth $126,624,000 after buying an additional 45,648 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have weighed in on RYTM. HC Wainwright reiterated a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Oppenheimer assumed coverage on Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an “outperform” rating and a $76.00 target price for the company. Bank of America raised their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Jefferies Financial Group assumed 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. Finally, The Goldman Sachs Group raised 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 investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.09.

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.