Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Yann Mazabraud Sells 75,000 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Yann Mazabraud sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $51.48, for a total value of $3,861,000.00. Following the transaction, the executive vice president now owns 40,370 shares in the company, valued at approximately $2,078,247.60. This represents a 65.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock traded down $0.05 during trading hours on Tuesday, reaching $52.29. 407,670 shares of the company were exchanged, compared to its average volume of 486,583. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The stock’s fifty day moving average is $55.51 and its 200 day moving average is $54.81. The firm has a market cap of $3.31 billion, a PE ratio of -12.08 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company had revenue of $41.83 million for the quarter, compared to analysts’ expectations of $38.48 million. Research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. HC Wainwright boosted their target price on Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Canaccord Genuity Group upped their price objective on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Stifel Nicolaus began coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They issued a “buy” rating and a $78.00 price objective on the stock. Finally, The Goldman Sachs Group upped their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $69.46.

Institutional Trading of Rhythm Pharmaceuticals

A number of large investors have recently modified their holdings of the stock. Castleark Management LLC increased its position in shares of Rhythm Pharmaceuticals by 1.3% during the third quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock worth $1,009,000 after acquiring an additional 250 shares during the period. Two Sigma Advisers LP increased its holdings in Rhythm Pharmaceuticals by 2.3% in the fourth quarter. Two Sigma Advisers LP now owns 13,100 shares of the company’s stock valued at $733,000 after buying an additional 300 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after buying an additional 400 shares during the last quarter. Raleigh Capital Management Inc. purchased a new position in Rhythm Pharmaceuticals in the fourth quarter valued at $28,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Rhythm Pharmaceuticals by 2.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,156 shares of the company’s stock valued at $1,857,000 after buying an additional 654 shares during the last quarter.

About Rhythm Pharmaceuticals

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.