Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CFO Sells $333,792.00 in Stock

Key Points

• Rhythm Pharmaceuticals CFO Hunter C. Smith sold 3,477 shares of stock for a total of $333,792, representing a 2.89% decrease in his ownership.
• The company reported a quarterly loss of ($0.75) earnings per share, missing analysts' expectations, but saw a 66.8% increase in revenue year-over-year, totaling $48.50 million.
• Analysts have assigned an average rating of "Buy" to Rhythm Pharmaceuticals with a consensus price target of $101.57, indicating positive sentiment towards the stock.

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) CFO Hunter C. Smith sold 3,477 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $96.00, for a total transaction of $333,792.00. Following the sale, the chief financial officer directly owned 116,915 shares of the company's stock, valued at $11,223,840. This represents a 2.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Rhythm Pharmaceuticals Stock Performance

RYTM traded down $1.38 on Thursday, reaching $96.48. 583,771 shares of the company's stock were exchanged, compared to its average volume of 588,855. Rhythm Pharmaceuticals, Inc. has a twelve month low of $43.57 and a twelve month high of $99.04. The stock's fifty day moving average price is $77.87 and its 200-day moving average price is $64.75.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.75) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.09). Rhythm Pharmaceuticals had a negative return on equity of 1,831.43% and a negative net margin of 117.13%. The business had revenue of $48.50 million for the quarter, compared to analyst estimates of $43.72 million. During the same quarter in the previous year, the firm posted ($0.55) earnings per share. The business's revenue was up 66.8% compared to the same quarter last year. As a group, sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of institutional investors have recently bought and sold shares of RYTM. Westfield Capital Management Co. LP purchased a new position in Rhythm Pharmaceuticals during the first quarter worth about $71,038,000. JPMorgan Chase & Co. raised its stake in Rhythm Pharmaceuticals by 445.5% during the second quarter. JPMorgan Chase & Co. now owns 783,559 shares of the company's stock worth $49,513,000 after purchasing an additional 639,919 shares during the period. Janus Henderson Group PLC raised its stake in 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 purchasing an additional 621,432 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Rhythm Pharmaceuticals by 75.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,199,053 shares of the company's stock worth $63,515,000 after purchasing an additional 513,901 shares during the period. Finally, Marshall Wace LLP raised its stake in Rhythm Pharmaceuticals by 70.4% during the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company's stock worth $38,783,000 after purchasing an additional 286,188 shares during the period.

Analyst Ratings Changes

A number of research firms have recently commented on RYTM. Morgan Stanley reissued an "overweight" rating and set a $109.00 target price (up previously from $100.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, August 5th. Leerink Partnrs raised shares of Rhythm Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 7th. Wells Fargo & Company boosted their target price on shares of Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen raised shares of Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, The Goldman Sachs Group began coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, July 10th. They set a "buy" rating and a $97.00 target price for the company. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $101.57.

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.

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