Lynn Tetrault Sells 37,000 Shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Director Lynn Tetrault sold 37,000 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the transaction, the director owned 7,000 shares of the company’s stock, valued at approximately $702,240. This represents a 84.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rhythm Pharmaceuticals Stock Up 1.3%

NASDAQ RYTM traded up $1.36 on Wednesday, reaching $107.55. The company had a trading volume of 1,226,425 shares, compared to its average volume of 795,596. The stock has a market capitalization of $7.37 billion, a PE ratio of -34.36 and a beta of 1.91. The firm’s 50 day moving average price is $89.44 and its 200 day moving average price is $95.78. Rhythm Pharmaceuticals, Inc. has a 12 month low of $60.80 and a 12 month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The business had revenue of $60.11 million for the quarter, compared to analysts’ expectations of $55.78 million. During the same quarter in the previous year, the company earned ($0.81) EPS. The business’s quarterly revenue was up 83.8% compared to the same quarter last year. On average, research analysts expect that Rhythm Pharmaceuticals, Inc. will post -3.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Citizens Jmp dropped their price target on Rhythm Pharmaceuticals from $176.00 to $152.00 and set a “market outperform” rating for the company in a research note on Tuesday, March 17th. Guggenheim upped their price objective on Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, February 27th. TD Cowen reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 17th. Citigroup reissued a “market outperform” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.12.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its stake in Rhythm Pharmaceuticals by 303.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Rhythm Pharmaceuticals by 73.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 145 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock worth $39,000 after purchasing an additional 118 shares during the period. Optiver Holding B.V. boosted its holdings in shares of Rhythm Pharmaceuticals by 65.2% in the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock worth $37,000 after purchasing an additional 144 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Rhythm Pharmaceuticals by 39.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after purchasing an additional 113 shares during the last quarter.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.