David P. Meeker Sells 9,896 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO David P. Meeker sold 9,896 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $566,249.12. Following the sale, the chief executive officer now owns 201,281 shares in the company, valued at approximately $11,517,298.82. This trade represents a 4.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Rhythm Pharmaceuticals Price Performance

RYTM opened at $57.74 on Friday. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The stock has a 50-day moving average price of $57.10 and a 200-day moving average price of $53.89. The firm has a market cap of $3.55 billion, a PE ratio of -13.33 and a beta of 2.14.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of RYTM. Loomis Sayles & Co. L P purchased a new stake in Rhythm Pharmaceuticals in the third quarter worth approximately $33,353,000. Janus Henderson Group PLC grew its position in Rhythm Pharmaceuticals by 103.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock worth $68,309,000 after purchasing an additional 621,432 shares during the period. Marshall Wace LLP grew its position in Rhythm Pharmaceuticals by 70.4% in the 4th quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock worth $38,783,000 after purchasing an additional 286,188 shares during the period. Norges Bank bought a new stake in Rhythm Pharmaceuticals in the 4th quarter worth approximately $11,512,000. Finally, JPMorgan Chase & Co. grew its position in Rhythm Pharmaceuticals by 224.3% in the 4th quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company’s stock worth $14,811,000 after purchasing an additional 182,993 shares during the period.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a “buy” rating and a $80.00 target price on the stock. The Goldman Sachs Group boosted their target price on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Canaccord Genuity Group restated a “buy” rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. JMP Securities restated a “market outperform” rating and set a $75.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Finally, TD Cowen boosted their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus 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.