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

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German sold 635 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the sale, the chief accounting officer now directly owns 2,070 shares in the company, valued at $118,445.40. This trade represents a 23.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Rhythm Pharmaceuticals Trading Up 0.8 %

Shares of NASDAQ RYTM opened at $58.00 on Thursday. The business’s 50 day moving average is $57.06 and its 200-day moving average is $53.86. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58.

Institutional Trading of Rhythm Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. Loomis Sayles & Co. L P acquired a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at approximately $33,353,000. Janus Henderson Group PLC raised its position in Rhythm Pharmaceuticals by 103.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock valued at $68,309,000 after purchasing an additional 621,432 shares in the last quarter. Marshall Wace LLP lifted its stake in Rhythm Pharmaceuticals by 70.4% during the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock worth $38,783,000 after purchasing an additional 286,188 shares during the last quarter. Norges Bank acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at $11,512,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Rhythm Pharmaceuticals by 224.3% in the 4th quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company’s stock valued at $14,811,000 after purchasing an additional 182,993 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RYTM. HC Wainwright reaffirmed a “buy” rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. Oppenheimer assumed coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective for the company. The Goldman Sachs Group boosted their target price on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price target on shares of Rhythm Pharmaceuticals in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target 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.