Yann Mazabraud Sells 17,750 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Yann Mazabraud sold 17,750 shares of the firm’s stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $60.99, for a total transaction of $1,082,572.50. Following the transaction, the executive vice president now owns 22,620 shares in the company, valued at $1,379,593.80. This represents a 43.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Yann Mazabraud also recently made the following trade(s):

• On Friday, March 14th, Yann Mazabraud sold 75,000 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $51.48, for a total value of $3,861,000.00.

Rhythm Pharmaceuticals Stock Up 3.0 %

RYTM opened at $59.55 on Friday. The firm has a market capitalization of $3.76 billion, a P/E ratio of -13.75 and a beta of 2.32. The stock has a fifty day moving average of $54.58 and a 200-day moving average of $55.29. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business had revenue of $41.83 million during the quarter, compared to analysts’ expectations of $38.48 million. On average, analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RYTM. Geode Capital Management LLC lifted its position in Rhythm Pharmaceuticals by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock worth $65,824,000 after buying an additional 3,499 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Rhythm Pharmaceuticals by 103.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock worth $68,309,000 after acquiring an additional 621,432 shares in the last quarter. Marshall Wace LLP boosted its position in Rhythm Pharmaceuticals by 70.4% during the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock valued at $38,783,000 after purchasing an additional 286,188 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Rhythm Pharmaceuticals by 24.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 685,152 shares of the company’s stock valued at $38,355,000 after purchasing an additional 134,622 shares in the last quarter. Finally, Hood River Capital Management LLC increased its position in Rhythm Pharmaceuticals by 4.7% in the 4th quarter. Hood River Capital Management LLC now owns 643,691 shares of the company’s stock worth $36,034,000 after purchasing an additional 29,093 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Canaccord Genuity Group upped their price objective on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday. Oppenheimer started coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an “overweight” rating in a report on Monday, April 7th. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a “buy” rating and a $80.00 target price for the company. Finally, Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They issued a “buy” rating and a $78.00 price target on the stock. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $74.92.

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.