Hunter Smith Sells 2,766 Shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock

by · The Markets Daily

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Free Report) CFO Hunter Smith sold 2,766 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $98.61, for a total value of $272,755.26. Following the transaction, the chief financial officer directly owned 120,058 shares in the company, valued at approximately $11,838,919.38. This represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Rhythm Pharmaceuticals Stock Performance

RYTM stock traded down $2.41 during mid-day trading on Thursday, reaching $96.06. 1,150,390 shares of the stock traded hands, compared to its average volume of 591,523. Rhythm Pharmaceuticals, Inc. has a one year low of $45.90 and a one year high of $122.20. The stock has a market capitalization of $6.41 billion, a PE ratio of -30.99 and a beta of 2.00. The business has a 50-day moving average price of $106.28 and a two-hundred day moving average price of $102.72.

Analyst Upgrades and Downgrades

RYTM has been the subject of several analyst reports. Needham & Company LLC raised their price objective on shares of Rhythm Pharmaceuticals from $145.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Zacks Research downgraded Rhythm Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Citizens Jmp boosted their price objective on Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the company a “market outperform” rating in a report on Friday, December 12th. Canaccord Genuity Group upped their price objective on Rhythm Pharmaceuticals from $114.00 to $141.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, UBS Group reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.29.

View Our Latest Stock Report on Rhythm Pharmaceuticals

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Rhythm Pharmaceuticals by 97.2% during the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after acquiring an additional 141 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Rhythm Pharmaceuticals by 1,110.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock valued at $35,000 after purchasing an additional 322 shares in the last quarter. Optiver Holding B.V. increased its holdings in Rhythm Pharmaceuticals by 65.2% in the third quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock valued at $37,000 after buying an additional 144 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its holdings in Rhythm Pharmaceuticals by 73.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 145 shares during the period.

Rhythm Pharmaceuticals Company Profile

(Get Free Report)

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.

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