Hunter Smith Sells 3,247 Shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter Smith sold 3,247 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $105.99, for a total transaction of $344,149.53. Following the sale, the chief financial officer directly owned 128,918 shares in the company, valued at $13,664,018.82. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM opened at $103.61 on Friday. The firm has a 50-day moving average of $106.59 and a 200-day moving average of $102.46. Rhythm Pharmaceuticals, Inc. has a one year low of $45.90 and a one year high of $122.20. The company has a market cap of $6.91 billion, a PE ratio of -33.42 and a beta of 2.00.

Institutional Trading of Rhythm Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 200 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Rhythm Pharmaceuticals by 97.2% in the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after acquiring an additional 141 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Rhythm Pharmaceuticals by 1,110.3% in the third quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock valued at $35,000 after acquiring an additional 322 shares in the last quarter. Optiver Holding B.V. increased its position in Rhythm Pharmaceuticals by 65.2% during the third quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock worth $37,000 after acquiring an additional 144 shares during the period. Finally, SBI Securities Co. Ltd. increased its position in Rhythm Pharmaceuticals by 73.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 145 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RYTM. Canaccord Genuity Group boosted their price target on Rhythm Pharmaceuticals from $114.00 to $141.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Wall Street Zen lowered Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Guggenheim increased their price target on Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Citizens Jmp raised their price target on Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the company a “market outperform” rating in a report on Friday, December 12th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $150.00 price objective on shares of Rhythm Pharmaceuticals in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.29.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.