abrdn plc Sells 32,287 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

abrdn plc lessened its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 28.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,517 shares of the company's stock after selling 32,287 shares during the period. abrdn plc owned approximately 0.13% of Rhythm Pharmaceuticals worth $4,507,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Castleark Management LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 1.3% in the third quarter. Castleark Management LLC now owns 19,260 shares of the company's stock valued at $1,009,000 after buying an additional 250 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company's stock valued at $114,000 after buying an additional 391 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $28,000. R Squared Ltd acquired a new position in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $44,000. Finally, KBC Group NV boosted its holdings in shares of Rhythm Pharmaceuticals by 78.2% in the fourth quarter. KBC Group NV now owns 2,251 shares of the company's stock valued at $126,000 after buying an additional 988 shares during the period.

Rhythm Pharmaceuticals Trading Down 0.1 %

Shares of NASDAQ:RYTM traded down $0.08 on Thursday, hitting $57.56. The company had a trading volume of 298,610 shares, compared to its average volume of 481,618. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of -13.29 and a beta of 2.14. The stock has a 50 day moving average price of $57.11 and a 200 day moving average price of $53.51.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, CFO Hunter C. Smith sold 1,678 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $99,723.54. Following the transaction, the chief financial officer now directly owns 101,186 shares in the company, valued at approximately $6,013,483.98. This represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph Shulman sold 1,281 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $76,129.83. Following the completion of the transaction, the insider now owns 2,657 shares in the company, valued at $157,905.51. This trade represents a 32.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,963 shares of company stock worth $883,060 over the last ninety days. Insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RYTM shares. HC Wainwright reaffirmed a "buy" rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Canaccord Genuity Group restated a "buy" rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. Guggenheim initiated coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They issued a "buy" rating and a $70.00 target price on the stock. Oppenheimer initiated coverage on Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an "outperform" rating and a $76.00 price target for the company. Finally, The Goldman Sachs Group increased their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $68.09.

Rhythm Pharmaceuticals 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.