Hunter C. Smith Sells 1,296 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith sold 1,296 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $57.51, for a total value of $74,532.96. Following the transaction, the chief financial officer now directly owns 106,295 shares of the company’s stock, valued at approximately $6,113,025.45. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Rhythm Pharmaceuticals Trading Up 0.1 %

Shares of NASDAQ:RYTM opened at $57.64 on Thursday. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58. The firm’s 50-day moving average is $57.11 and its 200 day moving average is $53.51.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RYTM. Loomis Sayles & Co. L P purchased a new position in Rhythm Pharmaceuticals during the 3rd quarter valued at $33,353,000. Norges Bank bought a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth $11,512,000. JPMorgan Chase & Co. boosted its stake in shares of Rhythm Pharmaceuticals by 224.3% during the fourth quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company’s stock valued at $14,811,000 after purchasing an additional 182,993 shares during the period. Alkeon Capital Management LLC grew its holdings in shares of Rhythm Pharmaceuticals by 16.8% in the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock worth $61,176,000 after purchasing an additional 167,700 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Rhythm Pharmaceuticals by 14.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock worth $58,208,000 after buying an additional 143,800 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RYTM shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. Needham & Company LLC upped their price target on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Guggenheim began coverage on shares of Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $70.00 price objective for the company. The Goldman Sachs Group boosted their target price on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.09.

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.