Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Sells $4,434,890.13 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 66,861 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $66.33, for a total value of $4,434,890.13. Following the sale, the executive vice president now directly owns 972 shares of the company’s stock, valued at $64,472.76. This trade represents a 98.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Rhythm Pharmaceuticals Trading Down 5.9 %

Shares of RYTM stock opened at $56.23 on Friday. The stock has a 50 day moving average of $52.37 and a 200 day moving average of $46.56. The stock has a market cap of $3.46 billion, a P/E ratio of -12.99 and a beta of 2.09. Rhythm Pharmaceuticals, Inc. has a twelve month low of $30.90 and a twelve month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. The business had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business’s revenue was up 47.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.76) earnings per share. On average, research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.41 earnings per share for the current fiscal year.

Institutional Trading of Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in RYTM. CWM LLC increased its position in shares of Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after buying an additional 253 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals in the second quarter valued at approximately $51,000. ORG Wealth Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals in the third quarter valued at approximately $63,000. Quest Partners LLC increased its position in shares of Rhythm Pharmaceuticals by 513.3% in the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after buying an additional 1,391 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Rhythm Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after purchasing an additional 391 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RYTM. Needham & Company LLC lifted their target price on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. JMP Securities began coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They set an “outperform” rating and a $64.00 target price for the company. Canaccord Genuity Group lifted their target price on Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Guggenheim began coverage on Rhythm Pharmaceuticals in a report on Monday, October 21st. They set a “buy” rating and a $70.00 target price for the company. Finally, HC Wainwright lifted their target price on Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.30.

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.