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 on Monday, November 11th. The stock was sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the completion of the transaction, the executive vice president now owns 972 shares in the company, valued at approximately $64,472.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rhythm Pharmaceuticals Trading Down 6.2 %

RYTM traded down $3.99 during midday trading on Wednesday, reaching $60.07. The company’s stock had a trading volume of 849,858 shares, compared to its average volume of 547,327. Rhythm Pharmaceuticals, Inc. has a 1 year low of $29.38 and a 1 year high of $68.58. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of -13.87 and a beta of 2.09. The stock’s 50-day moving average is $52.00 and its 200-day moving average is $46.34.

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

Analysts Set New Price Targets

Several research analysts recently commented on RYTM shares. TD Cowen lifted their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Guggenheim initiated coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a “buy” rating and a $70.00 price target on the stock. HC Wainwright increased their target price on shares of Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Bank of America boosted their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, JMP Securities initiated coverage on Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price target for the company. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.30.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of institutional investors have recently made changes to their positions in RYTM. CWM LLC increased its holdings in Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after buying an additional 253 shares during the last quarter. ORG Partners LLC bought a new stake in shares of Rhythm Pharmaceuticals during the second quarter valued at approximately $51,000. ORG Wealth Partners LLC bought a new position in shares of Rhythm Pharmaceuticals during the third quarter worth $63,000. Quest Partners LLC grew its stake in Rhythm Pharmaceuticals by 513.3% during the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after acquiring an additional 1,391 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Rhythm Pharmaceuticals by 21.5% in the 3rd 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.

About Rhythm Pharmaceuticals

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.