Hunter C. Smith Sells 1,678 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 1,678 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $99,723.54. Following the completion of the transaction, the chief financial officer now directly owns 101,186 shares of the company’s stock, valued at $6,013,483.98. The trade was a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Rhythm Pharmaceuticals Stock Up 0.9 %

Shares of NASDAQ:RYTM opened at $59.95 on Wednesday. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58. The business has a fifty day simple moving average of $57.39 and a 200-day simple moving average of $53.13.

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

Wall Street Analyst Weigh In

RYTM has been the subject of several research analyst reports. Bank of America raised their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Oppenheimer started coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 price target for the company. Guggenheim started coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $70.00 price target for the company. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Castleark Management LLC boosted its holdings in Rhythm Pharmaceuticals by 1.3% in 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 last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after acquiring an additional 391 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at $28,000. R Squared Ltd acquired a new position in Rhythm Pharmaceuticals in the fourth quarter valued at $44,000. Finally, KBC Group NV boosted its holdings in Rhythm Pharmaceuticals by 78.2% in the fourth quarter. KBC Group NV now owns 2,251 shares of the company’s stock valued at $126,000 after acquiring an additional 988 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.