Hunter C. Smith Sells 2,215 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 2,215 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $126,742.30. Following the completion of the sale, the chief financial officer now directly owns 109,929 shares of the company’s stock, valued at approximately $6,290,137.38. This trade represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Rhythm Pharmaceuticals Stock Performance

NASDAQ:RYTM opened at $57.74 on Friday. The company’s 50-day simple moving average is $57.10 and its 200-day simple moving average is $53.89. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The stock has a market capitalization of $3.55 billion, a P/E ratio of -13.33 and a beta of 2.14.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RYTM shares. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 target price on shares of Rhythm Pharmaceuticals in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. The Goldman Sachs Group raised their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $68.09.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of RYTM. SRS Capital Advisors Inc. increased its position in shares of Rhythm Pharmaceuticals by 740.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after purchasing an additional 400 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in Rhythm Pharmaceuticals during the 4th quarter worth $28,000. SBI Securities Co. Ltd. acquired a new position in Rhythm Pharmaceuticals during the 4th quarter valued at about $37,000. R Squared Ltd acquired a new position in Rhythm Pharmaceuticals during the 4th quarter valued at about $44,000. Finally, State of Wyoming purchased a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at about $61,000.

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.