Hunter C. Smith Sells 1,678 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 1,678 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $99,723.54. Following the completion of the transaction, the chief financial officer now 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 SEC, which is available at the SEC website.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ RYTM opened at $61.02 on Thursday. The stock has a fifty day moving average price of $57.37 and a 200 day moving average price of $53.19. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The company has a market cap of $3.75 billion, a PE ratio of -14.09 and a beta of 2.14.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RYTM. SRS Capital Advisors Inc. boosted its holdings in Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after purchasing an additional 400 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $328,000. Cannon Financial Strategists Inc. purchased a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $560,000. Principal Financial Group Inc. grew its holdings in Rhythm Pharmaceuticals by 13.2% during the fourth quarter. Principal Financial Group Inc. now owns 36,884 shares of the company’s stock worth $2,065,000 after acquiring an additional 4,298 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new position in Rhythm Pharmaceuticals in the fourth quarter worth $1,960,000.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Jefferies Financial Group began coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price objective for the company. TD Cowen upped their target price on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Guggenheim started coverage on Rhythm Pharmaceuticals in a research note on Monday, October 21st. They set a “buy” rating and a $70.00 price target on the stock. Bank of America boosted their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group raised their target price on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average 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.