Hunter C. Smith Sells 2,215 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) CFO Hunter C. Smith sold 2,215 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $126,742.30. Following the completion of the transaction, the chief financial officer now owns 109,929 shares of the company's stock, valued at $6,290,137.38. This represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Rhythm Pharmaceuticals Stock Down 2.9 %

Shares of RYTM stock traded down $1.67 during trading on Friday, hitting $56.07. The company had a trading volume of 420,178 shares, compared to its average volume of 463,964. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -12.95 and a beta of 2.14. The stock's 50-day moving average is $57.10 and its two-hundred day moving average is $53.89.

Analyst Ratings Changes

A number of research firms have recently commented on RYTM. Oppenheimer began coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an "outperform" rating and a $76.00 price target for the company. The Goldman Sachs Group raised their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Canaccord Genuity Group reiterated a "buy" rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. Needham & Company LLC restated a "buy" rating and issued a $64.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Wednesday. Finally, TD Cowen boosted their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $68.09.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of institutional investors have recently made changes to their positions in RYTM. GF Fund Management CO. LTD. purchased a new position in Rhythm Pharmaceuticals in the fourth quarter worth $72,000. Voloridge Investment Management LLC lifted its position in Rhythm Pharmaceuticals by 7.7% in the 4th quarter. Voloridge Investment Management LLC now owns 380,537 shares of the company's stock worth $21,302,000 after buying an additional 27,214 shares during the last quarter. Two Sigma Advisers LP boosted its stake in Rhythm Pharmaceuticals by 2.3% in the fourth quarter. Two Sigma Advisers LP now owns 13,100 shares of the company's stock worth $733,000 after buying an additional 300 shares in the last quarter. State of Wyoming bought a new position in Rhythm Pharmaceuticals during the fourth quarter valued at approximately $61,000. Finally, Stempoint Capital LP raised its position in Rhythm Pharmaceuticals by 404.1% in the 4th quarter. Stempoint Capital LP now owns 208,016 shares of the company's stock worth $11,645,000 after purchasing an additional 166,748 shares during the period.

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.