David P. Meeker Sells 4,278 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO David P. Meeker sold 4,278 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $254,241.54. Following the completion of the transaction, the chief executive officer now owns 189,927 shares of the company’s stock, valued at approximately $11,287,361.61. This represents a 2.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Rhythm Pharmaceuticals Stock Up 0.9 %

RYTM stock traded up $0.54 during trading on Tuesday, hitting $59.95. 441,491 shares of the company’s stock traded hands, compared to its average volume of 515,022. The firm has a market capitalization of $3.68 billion, a P/E ratio of -13.85 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The business has a fifty day simple moving average of $57.39 and a two-hundred day simple moving average of $53.13.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.07. The company had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.76) earnings per share. On average, equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Raleigh Capital Management Inc. acquired a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at approximately $28,000. R Squared Ltd acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter worth $44,000. ORG Wealth Partners LLC purchased a new position in Rhythm Pharmaceuticals during the 3rd quarter worth $63,000. Mirae Asset Global Investments Co. Ltd. increased its position in Rhythm Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after buying an additional 391 shares in the last quarter. Finally, KBC Group NV increased its position in Rhythm Pharmaceuticals by 78.2% during the 4th quarter. KBC Group NV now owns 2,251 shares of the company’s stock valued at $126,000 after buying an additional 988 shares in the last quarter.

Wall Street Analyst Weigh In

RYTM has been the subject of several analyst reports. Needham & Company LLC raised their price objective on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. 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 research note on Thursday, December 5th. HC Wainwright reissued a “buy” rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Jefferies Financial Group assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target for the company. Finally, Oppenheimer began coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.