Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Sells 4,189 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 4,189 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $58.91, for a total value of $246,773.99. Following the sale, the executive vice president now owns 4,409 shares in the company, valued at $259,734.19. This represents a 48.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Jennifer Kayden Lee also recently made the following trade(s):

• On Tuesday, February 4th, Jennifer Kayden Lee sold 1,447 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $59.43, for a total value of $85,995.21.

Rhythm Pharmaceuticals Price Performance

NASDAQ:RYTM opened at $57.56 on Friday. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The firm has a market capitalization of $3.54 billion, a P/E ratio of -13.29 and a beta of 2.14. The business has a 50 day simple moving average of $57.11 and a 200 day simple moving average of $53.51.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. boosted its position in Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after acquiring an additional 400 shares during the period. Raleigh Capital Management Inc. acquired a new position in Rhythm Pharmaceuticals during the 4th quarter worth $28,000. SBI Securities Co. Ltd. acquired a new position in Rhythm Pharmaceuticals during the 4th quarter worth $37,000. R Squared Ltd acquired a new position in Rhythm Pharmaceuticals during the 4th quarter worth $44,000. Finally, ORG Wealth Partners LLC acquired a new position in Rhythm Pharmaceuticals during the 3rd quarter worth $63,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Oppenheimer assumed coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They issued an “outperform” rating and a $76.00 target price for the company. JMP Securities reiterated a “market outperform” rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. TD Cowen lifted their target price on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. HC Wainwright reiterated a “buy” rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Finally, Guggenheim assumed coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They issued a “buy” rating and a $70.00 target price for the company. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.