Jennifer Kayden Lee Sells 66,861 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 66,861 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $66.33, for a total value of $4,434,890.13. Following the completion of the transaction, the executive vice president now directly owns 972 shares in the company, valued at $64,472.76. This trade represents a 98.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Rhythm Pharmaceuticals Price Performance

NASDAQ:RYTM opened at $59.77 on Friday. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of -13.80 and a beta of 2.09. Rhythm Pharmaceuticals, Inc. has a one year low of $30.90 and a one year high of $68.58. The business has a fifty day moving average price of $52.00 and a 200-day moving average price of $46.34.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.07. The firm 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%. Rhythm Pharmaceuticals’s revenue was up 47.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.76) EPS. On average, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

RYTM has been the topic of several analyst reports. Needham & Company LLC upped their price objective on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Guggenheim began coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They issued a “buy” rating and a $70.00 price objective on the stock. TD Cowen boosted their target price 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. Canaccord Genuity Group boosted their target price on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Bank of America boosted their target price on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $62.30.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of RYTM. CWM LLC boosted its holdings in Rhythm Pharmaceuticals by 62.6% in the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after buying an additional 253 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after buying an additional 391 shares during the period. American International Group Inc. boosted its holdings in Rhythm Pharmaceuticals by 3.1% in the 1st quarter. American International Group Inc. now owns 26,318 shares of the company’s stock worth $1,140,000 after buying an additional 781 shares during the period. ORG Partners LLC bought a new position in Rhythm Pharmaceuticals in the 2nd quarter worth $51,000. Finally, ORG Wealth Partners LLC bought a new position in Rhythm Pharmaceuticals in the 3rd quarter worth $63,000.

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.