Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German Sells 635 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) CAO Christopher Paul German sold 635 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70. Following the completion of the transaction, the chief accounting officer now owns 2,070 shares in the company, valued at approximately $118,445.40. This trade represents a 23.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Rhythm Pharmaceuticals Price Performance

RYTM stock traded down $1.67 during midday trading on Friday, reaching $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 1-year low of $35.17 and a 1-year high of $68.58. The stock has a 50 day moving average price of $57.10 and a 200-day moving average price of $53.89. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -12.95 and a beta of 2.14.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on RYTM. Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a "buy" rating and a $80.00 price objective for the company. TD Cowen boosted their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. HC Wainwright reiterated a "buy" rating and set a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Oppenheimer assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an "outperform" rating and a $76.00 target price for the company. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $68.09.

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.