Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) CFO Hunter C. Smith sold 1,678 shares of the firm'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 sale, the chief financial officer now owns 101,186 shares in the company, valued at approximately $6,013,483.98. The trade was a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Rhythm Pharmaceuticals Stock Performance
Shares of RYTM traded down $0.83 during midday trading on Friday, hitting $59.18. 372,997 shares of the stock traded hands, compared to its average volume of 477,675. The firm has a market capitalization of $3.64 billion, a PE ratio of -13.67 and a beta of 2.14. The business's 50 day moving average price is $57.26 and its two-hundred day moving average price is $53.30. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58.
Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued 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. The business had revenue of $33.20 million during the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business's revenue for the quarter was up 47.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.76) EPS. As a group, equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.33 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Castleark Management LLC raised its stake in shares of Rhythm Pharmaceuticals by 1.3% during the third quarter. Castleark Management LLC now owns 19,260 shares of the company's stock valued at $1,009,000 after purchasing an additional 250 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Rhythm Pharmaceuticals by 21.5% during the 3rd 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. SRS Capital Advisors Inc. raised its position in shares of Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock worth $25,000 after buying an additional 400 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $28,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $37,000.
Wall Street Analyst Weigh In
Several analysts have issued reports on RYTM shares. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a "buy" rating and a $80.00 price objective for the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. TD Cowen boosted their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Bank of America upped their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Finally, Needham & Company LLC lifted 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. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $68.09.
Check Out Our Latest Research Report on RYTM
About Rhythm Pharmaceuticals
(
Get Free Report)
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.
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