Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee Sells 4,189 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 4,189 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $58.91, for a total value of $246,773.99. Following the completion of the sale, the executive vice president now directly owns 4,409 shares of the company’s stock, valued at $259,734.19. This represents a 48.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Jennifer Kayden Lee also recently made the following trade(s):

• On Tuesday, February 4th, Jennifer Kayden Lee sold 1,447 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $59.43, for a total value of $85,995.21.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock opened at $57.58 on Wednesday. The stock has a fifty day moving average price of $57.22 and a two-hundred day moving average price of $53.42. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58. The firm has a market capitalization of $3.54 billion, a P/E ratio of -13.30 and a beta of 2.14.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. raised its stake in Rhythm Pharmaceuticals by 1.9% during the third quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock worth $126,624,000 after acquiring an additional 45,648 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Rhythm Pharmaceuticals by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock valued at $65,824,000 after buying an additional 3,499 shares in the last quarter. Alkeon Capital Management LLC increased its stake in shares of Rhythm Pharmaceuticals by 16.8% in the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock valued at $61,176,000 after buying an additional 167,700 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Rhythm Pharmaceuticals by 14.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock valued at $58,208,000 after buying an additional 143,800 shares in the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Rhythm Pharmaceuticals in the third quarter valued at $33,353,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price objective for the company. The Goldman Sachs Group upped their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. HC Wainwright restated a “buy” rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. JMP Securities restated a “market outperform” rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.