Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Sells $116,442.70 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 2,035 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $116,442.70. Following the completion of the transaction, the executive vice president now directly owns 5,858 shares in the company, valued at approximately $335,194.76. The trade was a 25.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, February 12th, Jennifer Kayden Lee sold 1,815 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $56.39, for a total transaction of $102,347.85.
• On Monday, February 10th, Jennifer Kayden Lee sold 4,189 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $58.91, for a total value of $246,773.99.
• 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 Stock Down 2.9 %

RYTM stock opened at $56.07 on Friday. The company has a 50-day simple moving average of $57.12 and a 200 day simple moving average of $53.97. The company has a market capitalization of $3.45 billion, a P/E ratio of -12.95 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58.

Institutional Trading of Rhythm Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Castleark Management LLC increased its stake 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 valued at $1,009,000 after acquiring an additional 250 shares during the period. Two Sigma Advisers LP increased its position in shares of Rhythm Pharmaceuticals by 2.3% during the 4th quarter. Two Sigma Advisers LP now owns 13,100 shares of the company’s stock valued at $733,000 after purchasing an additional 300 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after buying an additional 391 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after buying an additional 400 shares in the last quarter. Finally, Raleigh Capital Management Inc. acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at $28,000.

Analyst Ratings Changes

A number of research firms have commented on RYTM. The Goldman Sachs Group lifted their price objective 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. 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. Needham & Company LLC restated a “buy” rating and issued a $64.00 target price on shares of Rhythm Pharmaceuticals in a research note on Wednesday. TD Cowen increased their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, HC Wainwright restated a “buy” rating and set a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.09.

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.