Hunter C. Smith Sells 1,678 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 1,678 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $99,723.54. Following the completion of the transaction, the chief financial officer now directly owns 101,186 shares in the company, valued at $6,013,483.98. This trade represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Rhythm Pharmaceuticals Stock Performance

RYTM opened at $60.01 on Friday. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The firm has a 50-day moving average of $57.37 and a 200 day moving average of $53.19.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm had revenue of $33.20 million during the quarter, compared to the consensus estimate of $32.52 million. During the same period in the prior year, the firm earned ($0.76) EPS. The company’s revenue was up 47.6% compared to the same quarter last year. On average, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $69.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 target price on the stock. Bank of America lifted their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. JMP Securities reissued a “market outperform” rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Finally, Guggenheim initiated coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They set a “buy” rating and a $70.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.09.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several institutional investors have recently bought and sold shares of RYTM. Castleark Management LLC increased its position in Rhythm Pharmaceuticals by 1.3% in the third quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock worth $1,009,000 after buying an additional 250 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 acquiring an additional 391 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after acquiring an additional 400 shares during the period. Raleigh Capital Management Inc. bought a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at about $28,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Rhythm Pharmaceuticals during the fourth quarter valued at about $37,000.

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.