Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Sells 1,296 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 1,296 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $57.51, for a total value of $74,532.96. Following the sale, the chief financial officer now directly owns 106,295 shares of the company’s stock, valued at approximately $6,113,025.45. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rhythm Pharmaceuticals Stock Up 0.1 %

NASDAQ RYTM opened at $57.64 on Thursday. The firm’s fifty day simple moving average is $57.11 and its two-hundred day simple moving average is $53.51. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RYTM. JMP Securities restated a “market outperform” rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Canaccord Genuity Group restated a “buy” rating and issued a $80.00 price target on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. TD Cowen increased their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 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 company a “buy” rating in a report on Thursday, December 5th. Finally, HC Wainwright restated a “buy” rating and set a $69.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.09.

Institutional Trading of Rhythm Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the business. FMR LLC raised its stake in Rhythm Pharmaceuticals by 79.7% in the third quarter. FMR LLC now owns 50,295 shares of the company’s stock valued at $2,635,000 after buying an additional 22,306 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 241.9% during the third quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock valued at $1,707,000 after acquiring an additional 23,054 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Rhythm Pharmaceuticals by 307.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company’s stock valued at $756,000 after purchasing an additional 10,882 shares during the last quarter. Creative Planning acquired a new stake in Rhythm Pharmaceuticals in the 3rd quarter worth approximately $450,000. Finally, Intech Investment Management LLC acquired a new stake in Rhythm Pharmaceuticals in the 3rd quarter worth approximately $649,000.

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.