Hunter Smith Sells 62,774 Shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 62,774 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $105.46, for a total transaction of $6,620,146.04. Following the transaction, the chief financial officer owned 114,024 shares of the company’s stock, valued at approximately $12,024,971.04. The trade was a 35.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rhythm Pharmaceuticals Stock Down 1.3%

Rhythm Pharmaceuticals stock traded down $1.39 during midday trading on Tuesday, reaching $104.74. The stock had a trading volume of 322,694 shares, compared to its average volume of 767,008. The firm’s 50-day moving average price is $109.88 and its 200 day moving average price is $96.92. The firm has a market capitalization of $7.18 billion, a PE ratio of -33.68 and a beta of 1.92. Rhythm Pharmaceuticals, Inc. has a 12 month low of $74.50 and a 12 month high of $122.20.

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 business had revenue of $71.25 million for the quarter, compared to analyst estimates of $67.66 million. During the same quarter in the prior year, the firm posted ($0.75) EPS. Rhythm Pharmaceuticals’s revenue was up 46.9% on a year-over-year basis. Equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -2.82 EPS for the current year.

Analyst Upgrades and Downgrades

RYTM has been the topic of several research analyst reports. Citizens Jmp upped their target price on shares of Rhythm Pharmaceuticals from $155.00 to $160.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 5th. National Bank Financial set a $160.00 price objective on Rhythm Pharmaceuticals in a research note on Wednesday, August 5th. Wells Fargo & Company boosted their target price on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Royal Bank Of Canada increased their target price on shares of Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Rhythm Pharmaceuticals in a research report on Friday. They set a “hold” rating and a $120.00 target price for the company. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.12.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RYTM. EverSource Wealth Advisors LLC lifted its position in Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. SBI Securities Co. Ltd. raised its position in 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 in the last quarter. GAMMA Investing LLC grew its holdings in Rhythm Pharmaceuticals by 36.3% during the 2nd quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after acquiring an additional 97 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Rhythm Pharmaceuticals by 39.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock worth $43,000 after purchasing an additional 113 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals during the 2nd quarter worth about $51,000.

About Rhythm Pharmaceuticals

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.