Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO Sells $566,249.12 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO David P. Meeker sold 9,896 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $566,249.12. Following the completion of the sale, the chief executive officer now owns 201,281 shares in the company, valued at $11,517,298.82. The trade was a 4.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rhythm Pharmaceuticals Stock Up 0.8 %

Shares of RYTM traded up $0.45 during trading hours on Wednesday, reaching $58.00. The company’s stock had a trading volume of 374,320 shares, compared to its average volume of 471,501. The company has a 50 day moving average of $57.06 and a two-hundred day moving average of $53.86. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of -13.39 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after buying an additional 400 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth $37,000. R Squared Ltd acquired a new stake in Rhythm Pharmaceuticals during the fourth quarter valued at $44,000. Finally, State of Wyoming purchased a new position in Rhythm Pharmaceuticals in the fourth quarter valued at about $61,000.

Analyst Upgrades and Downgrades

RYTM has been the topic of several recent research reports. TD Cowen lifted their price target on shares of 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 restated a “buy” rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 target price on shares of Rhythm Pharmaceuticals in a research report on Wednesday. The Goldman Sachs Group increased their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.