Yann Mazabraud Sells 75,000 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Yann Mazabraud sold 75,000 shares of Rhythm Pharmaceuticals stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $51.48, for a total value of $3,861,000.00. Following the sale, the executive vice president now directly owns 40,370 shares of the company’s stock, valued at approximately $2,078,247.60. This represents a 65.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock traded down $0.05 on Tuesday, hitting $52.29. The company’s stock had a trading volume of 407,670 shares, compared to its average volume of 486,583. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of -12.08 and a beta of 2.30. The firm has a fifty day moving average price of $55.51 and a 200-day moving average price of $54.81.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million. As a group, analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RYTM shares. The Goldman Sachs Group lifted their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Oppenheimer started coverage on Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an “outperform” rating and a $76.00 price objective for the company. Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Finally, Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a research note on Wednesday, March 5th. They set a “buy” rating and a $78.00 price objective for the company. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $69.46.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several institutional investors have recently bought and sold shares of RYTM. SRS Capital Advisors Inc. boosted its holdings in Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after buying an additional 400 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter worth about $28,000. SBI Securities Co. Ltd. acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter worth about $37,000. R Squared Ltd acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $44,000. Finally, State of Wyoming acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $61,000.

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.