Rhythm Pharmaceuticals (NASDAQ:RYTM) EVP Jennifer Kayden Lee Sells 75,834 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 75,834 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $117.38, for a total value of $8,901,394.92. Following the completion of the transaction, the executive vice president directly owned 54,233 shares of the company’s stock, valued at $6,365,869.54. This represents a 58.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ RYTM opened at $115.48 on Friday. The company has a 50 day simple moving average of $105.44 and a 200 day simple moving average of $96.45. Rhythm Pharmaceuticals, Inc. has a 1 year low of $74.50 and a 1 year high of $122.20. The firm has a market cap of $7.91 billion, a PE ratio of -37.13 and a beta of 1.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative net margin of 85.59% and a negative return on equity of 159.87%. The firm had revenue of $71.25 million for the quarter, compared to analyst estimates of $67.66 million. During the same period in the previous year, the firm posted ($0.75) EPS. The company’s revenue for the quarter was up 46.9% compared to the same quarter last year. As a group, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -2.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of institutional investors have recently modified their holdings of RYTM. EverSource Wealth Advisors LLC raised 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 buying an additional 200 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in Rhythm Pharmaceuticals by 73.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 145 shares during the period. GAMMA Investing LLC boosted its position in Rhythm Pharmaceuticals by 36.3% during the second quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock valued at $40,000 after acquiring an additional 97 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Rhythm Pharmaceuticals by 39.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after acquiring an additional 113 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in Rhythm Pharmaceuticals during the 2nd quarter worth about $51,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RYTM. TD Cowen reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 17th. Wall Street Zen upgraded Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Royal Bank Of Canada raised their target price on Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. lifted their target price on Rhythm Pharmaceuticals from $145.00 to $146.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Citigroup reiterated a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Fifteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.44.

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.