David P. Meeker Sells 9,896 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO David P. Meeker sold 9,896 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $566,249.12. Following the completion of the transaction, the chief executive officer now directly owns 201,281 shares in the company, valued at $11,517,298.82. This represents a 4.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rhythm Pharmaceuticals Trading Up 0.8 %

RYTM traded up $0.45 on Wednesday, reaching $58.00. The company had a trading volume of 374,320 shares, compared to its average volume of 471,501. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The company has a market capitalization of $3.56 billion, a P/E ratio of -13.39 and a beta of 2.14. The company has a fifty day moving average of $57.06 and a 200-day moving average of $53.86.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SRS Capital Advisors Inc. raised its holdings in 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. acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter valued at $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter worth $37,000. R Squared Ltd acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at $44,000. Finally, State of Wyoming acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at $61,000.

Analysts Set New Price Targets

RYTM has been the topic of several recent research reports. Oppenheimer started coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 target price on shares of Rhythm Pharmaceuticals in a research note on Wednesday. Canaccord Genuity Group restated a “buy” rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. JMP Securities reiterated a “market outperform” rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Finally, Jefferies Financial Group began coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 target price for the company. One equities research 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 currently has an average rating of “Moderate Buy” and an average price target of $68.09.

Rhythm Pharmaceuticals Company Profile

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.