Jennifer Kayden Lee Sells 66,861 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 66,861 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the transaction, the executive vice president now owns 972 shares in the company, valued at $64,472.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Rhythm Pharmaceuticals Stock Down 6.2 %

RYTM stock traded down $3.99 during midday trading on Wednesday, hitting $60.07. The company’s stock had a trading volume of 849,858 shares, compared to its average volume of 547,327. Rhythm Pharmaceuticals, Inc. has a 1 year low of $29.38 and a 1 year high of $68.58. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -13.87 and a beta of 2.09. The stock’s 50-day moving average price is $52.00 and its 200 day moving average price is $46.34.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $33.20 million during the quarter, compared to the consensus estimate of $32.52 million. During the same quarter last year, the company posted ($0.76) earnings per share. The firm’s quarterly revenue was up 47.6% compared to the same quarter last year. As a group, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RYTM. CWM LLC increased its holdings in Rhythm Pharmaceuticals by 62.6% during the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after acquiring an additional 253 shares during the period. ORG Partners LLC bought a new position in shares of Rhythm Pharmaceuticals in the second quarter worth $51,000. ORG Wealth Partners LLC bought a new stake in Rhythm Pharmaceuticals during the third quarter valued at $63,000. Quest Partners LLC grew its holdings in shares of Rhythm Pharmaceuticals by 513.3% during the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after purchasing an additional 1,391 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after buying an additional 391 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently commented on RYTM. JMP Securities started coverage on Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 target price for the company. Needham & Company LLC upped their target price on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. HC Wainwright lifted their price objective on shares of Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group raised their price target on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Bank of America boosted their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $62.30.

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.