Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Sells $74,532.96 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) CFO Hunter C. Smith sold 1,296 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $57.51, for a total value of $74,532.96. Following the transaction, the chief financial officer now owns 106,295 shares in the company, valued at approximately $6,113,025.45. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rhythm Pharmaceuticals Trading Down 1.5 %

RYTM traded down $0.87 during midday trading on Friday, hitting $56.69. 327,086 shares of the company were exchanged, compared to its average volume of 477,675. The company's 50 day simple moving average is $57.06 and its 200 day simple moving average is $53.59. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -13.09 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a "buy" rating and a $80.00 price target on the stock. Canaccord Genuity Group reissued a "buy" rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. JMP Securities reaffirmed a "market outperform" rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. The Goldman Sachs Group boosted their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Finally, TD Cowen upped their target price on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $68.09.

Institutional Trading of Rhythm Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. FMR LLC lifted its holdings in Rhythm Pharmaceuticals by 79.7% in the third quarter. FMR LLC now owns 50,295 shares of the company's stock valued at $2,635,000 after acquiring an additional 22,306 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Rhythm Pharmaceuticals by 241.9% in the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company's stock valued at $1,707,000 after purchasing an additional 23,054 shares during the period. BNP Paribas Financial Markets boosted its holdings in Rhythm Pharmaceuticals by 307.1% during the third quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company's stock worth $756,000 after buying an additional 10,882 shares in the last quarter. Creative Planning acquired a new stake in Rhythm Pharmaceuticals during the third quarter valued at $450,000. Finally, Intech Investment Management LLC purchased a new position in Rhythm Pharmaceuticals in the third quarter valued at $649,000.

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.