David P. Meeker Sells 4,278 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO David P. Meeker sold 4,278 shares of the firm’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 $254,241.54. Following the completion of the transaction, the chief executive officer now owns 189,927 shares of the company’s stock, valued at approximately $11,287,361.61. The trade was a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Rhythm Pharmaceuticals Stock Up 0.9 %

Shares of Rhythm Pharmaceuticals stock traded up $0.54 during trading hours on Tuesday, reaching $59.95. 441,491 shares of the company’s stock were exchanged, compared to its average volume of 515,022. The business has a fifty day moving average of $57.39 and a two-hundred day moving average of $53.13. The company has a market capitalization of $3.68 billion, a P/E ratio of -13.85 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58.

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

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in RYTM. Raleigh Capital Management Inc. acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter worth $28,000. R Squared Ltd purchased a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at about $44,000. ORG Wealth Partners LLC acquired a new stake in Rhythm Pharmaceuticals during the third quarter worth about $63,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Rhythm Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after purchasing an additional 391 shares during the period. Finally, KBC Group NV boosted its holdings in Rhythm Pharmaceuticals by 78.2% in the 4th quarter. KBC Group NV now owns 2,251 shares of the company’s stock valued at $126,000 after purchasing an additional 988 shares during the last quarter.

Analyst Ratings Changes

Several brokerages recently weighed in on RYTM. Guggenheim initiated coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a “buy” rating and a $70.00 price target on the stock. Bank of America raised their target price on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Needham & Company LLC upped their price target on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a “buy” rating and a $80.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.