Hunter Smith Sells 2,713 Shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 2,713 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $103.00, for a total value of $279,439.00. Following the completion of the sale, the chief financial officer directly owned 122,824 shares of the company’s stock, valued at $12,650,872. This represents a 2.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ RYTM traded down $2.41 during mid-day trading on Thursday, reaching $96.06. 1,150,390 shares of the company traded hands, compared to its average volume of 591,523. The stock has a market cap of $6.41 billion, a PE ratio of -30.99 and a beta of 2.00. The company’s fifty day moving average is $106.28 and its two-hundred day moving average is $102.72. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $45.90 and a fifty-two week high of $122.20.

Institutional Trading of Rhythm Pharmaceuticals

A number of hedge funds have recently modified their holdings of RYTM. AQR Capital Management LLC grew its holdings in shares of Rhythm Pharmaceuticals by 148.2% during the 1st quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock worth $2,085,000 after purchasing an additional 23,506 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Rhythm Pharmaceuticals by 6.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,282 shares of the company’s stock worth $1,874,000 after buying an additional 2,126 shares in the last quarter. KLP Kapitalforvaltning AS boosted its stake in Rhythm Pharmaceuticals by 9.7% during the second quarter. KLP Kapitalforvaltning AS now owns 10,200 shares of the company’s stock worth $645,000 after buying an additional 900 shares in the last quarter. CWM LLC increased its holdings in Rhythm Pharmaceuticals by 19.6% in the 2nd quarter. CWM LLC now owns 3,091 shares of the company’s stock valued at $195,000 after buying an additional 507 shares during the period. Finally, TD Asset Management Inc raised its stake in shares of Rhythm Pharmaceuticals by 11.6% in the 2nd quarter. TD Asset Management Inc now owns 56,000 shares of the company’s stock valued at $3,539,000 after buying an additional 5,800 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Zacks Research cut shares of Rhythm Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Canaccord Genuity Group lifted their target price on shares of Rhythm Pharmaceuticals from $114.00 to $141.00 and gave the stock a “buy” rating in a report on Friday, December 12th. UBS Group reaffirmed a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 22nd. Finally, TD Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $131.29.

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.