Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO David P. Meeker Sells 4,278 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO David P. Meeker sold 4,278 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $254,241.54. Following the sale, the chief executive officer now directly owns 189,927 shares of the company’s stock, valued at approximately $11,287,361.61. This represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rhythm Pharmaceuticals Trading Up 0.9 %

Shares of NASDAQ:RYTM opened at $59.95 on Wednesday. The business has a fifty day simple moving average of $57.39 and a 200 day simple moving average of $53.13. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.76) EPS. Analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Raleigh Capital Management Inc. acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter valued at about $28,000. R Squared Ltd bought a new position in shares of Rhythm Pharmaceuticals in the fourth quarter valued at approximately $44,000. ORG Wealth Partners LLC acquired a new stake in shares of Rhythm Pharmaceuticals in the third quarter worth $63,000. Mirae Asset Global Investments Co. Ltd. grew 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 valued at $114,000 after buying an additional 391 shares during the last quarter. Finally, KBC Group NV raised its holdings in Rhythm Pharmaceuticals by 78.2% in the 4th quarter. KBC Group NV now owns 2,251 shares of the company’s stock worth $126,000 after acquiring an additional 988 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Jefferies Financial Group initiated coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price target for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. HC Wainwright restated a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Guggenheim began coverage on shares of Rhythm Pharmaceuticals in a research report on Monday, October 21st. They issued a “buy” rating and a $70.00 price target for the company. Finally, JMP Securities reiterated a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.09.

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.