Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Hunter C. Smith Sells 42,120 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) CFO Hunter C. Smith sold 42,120 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $80.48, for a total transaction of $3,389,817.60. Following the transaction, the chief financial officer owned 116,915 shares of the company's stock, valued at approximately $9,409,319.20. This trade represents a 26.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rhythm Pharmaceuticals Stock Up 2.8%

Rhythm Pharmaceuticals stock traded up $2.45 during mid-day trading on Monday, hitting $89.15. The company had a trading volume of 736,625 shares, compared to its average volume of 589,109. Rhythm Pharmaceuticals, Inc. has a 1 year low of $40.61 and a 1 year high of $94.80. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of -31.73 and a beta of 2.26. The business has a fifty day moving average of $64.34 and a 200 day moving average of $59.31.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative net margin of 123.26% and a negative return on equity of 739.62%. The firm had revenue of $37.72 million during the quarter, compared to analysts' expectations of $40.43 million. During the same period in the previous year, the firm posted ($2.35) earnings per share. The firm's revenue for the quarter was up 25.9% on a year-over-year basis. Equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Toth Financial Advisory Corp purchased a new position in Rhythm Pharmaceuticals during the 2nd quarter worth $632,000. Assenagon Asset Management S.A. grew its position in Rhythm Pharmaceuticals by 972.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 237,998 shares of the company's stock worth $15,039,000 after purchasing an additional 215,806 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Rhythm Pharmaceuticals by 12.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 86,546 shares of the company's stock worth $5,469,000 after purchasing an additional 9,249 shares during the last quarter. E. Ohman J or Asset Management AB purchased a new position in Rhythm Pharmaceuticals during the 2nd quarter worth $519,000. Finally, Rhumbline Advisers raised its stake in shares of Rhythm Pharmaceuticals by 3.6% during the first quarter. Rhumbline Advisers now owns 85,719 shares of the company's stock worth $4,541,000 after purchasing an additional 2,988 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RYTM shares. Leerink Partnrs raised shares of Rhythm Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 7th. Morgan Stanley set a $95.00 target price on Rhythm Pharmaceuticals and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Guggenheim reiterated a "buy" rating on shares of Rhythm Pharmaceuticals in a report on Thursday. Bank of America lifted their price target on shares of Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday. Finally, The Goldman Sachs Group initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday. They set a "buy" rating and a $97.00 price target for the company. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $91.00.

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.