Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO Sells $254,241.54 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO David P. Meeker sold 4,278 shares of the company’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 $254,241.54. Following the transaction, the chief executive officer now owns 189,927 shares of the company’s stock, valued at approximately $11,287,361.61. The trade was a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM opened at $59.95 on Wednesday. The company’s fifty day moving average is $57.39 and its 200-day moving average is $53.13. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RYTM shares. Needham & Company LLC upped their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Oppenheimer initiated coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price target for the company. Guggenheim initiated coverage on Rhythm Pharmaceuticals in a report on Monday, October 21st. They set a “buy” rating and a $70.00 price objective on the stock. TD Cowen boosted their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group assumed coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 target price for the company. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.09.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Raleigh Capital Management Inc. bought a new stake in Rhythm Pharmaceuticals during the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new position in Rhythm Pharmaceuticals in the fourth quarter worth $44,000. ORG Wealth Partners LLC bought a new stake in shares of Rhythm Pharmaceuticals during the third quarter worth $63,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after buying an additional 391 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Rhythm Pharmaceuticals by 78.2% in the fourth quarter. KBC Group NV now owns 2,251 shares of the company’s stock valued at $126,000 after buying an additional 988 shares during the last quarter.

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.