Hunter C. Smith Sells 2,215 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 2,215 shares of Rhythm Pharmaceuticals stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $126,742.30. Following the completion of the transaction, the chief financial officer now directly owns 109,929 shares of the company’s stock, valued at $6,290,137.38. The trade was a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rhythm Pharmaceuticals Stock Performance

RYTM traded up $0.45 during trading on Wednesday, hitting $58.00. The stock had a trading volume of 374,320 shares, compared to its average volume of 471,501. The stock has a 50 day simple moving average of $57.06 and a two-hundred day simple moving average of $53.86. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58. The company has a market capitalization of $3.56 billion, a PE ratio of -13.39 and a beta of 2.14.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RYTM shares. The Goldman Sachs Group raised their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. 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. 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. Canaccord Genuity Group restated a “buy” rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. Finally, HC Wainwright reiterated a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $68.09.

Institutional Trading of Rhythm Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the business. SRS Capital Advisors Inc. increased 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 valued at $25,000 after buying an additional 400 shares in the last quarter. Raleigh Capital Management Inc. purchased a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth about $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Rhythm Pharmaceuticals during the fourth quarter valued at about $37,000. R Squared Ltd purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at approximately $44,000. Finally, State of Wyoming acquired a new stake in Rhythm Pharmaceuticals in the 4th quarter worth approximately $61,000.

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.