Rhythm Pharmaceuticals (NASDAQ:RYTM) EVP Yann Mazabraud Sells 57,000 Shares

Key Points

• Rhythm Pharmaceuticals EVP Yann Mazabraud sold 57,000 shares at an average price of $116.15, generating proceeds of approximately $6.62 million. The Rule 10b5-1 transaction reduced his direct stake by 50.6% to 55,655 shares.
• Rhythm reported quarterly revenue of $71.25 million, up 46.9% year over year, and an adjusted loss of $0.73 per share—better than analysts’ expected loss of $0.81.
• Analysts remain broadly positive, with 15 Buy ratings, two Holds and one Sell; the stock carries a “Moderate Buy” consensus rating and an average price target of $142.44, versus a recent price of $115.48.

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) EVP Yann Mazabraud sold 57,000 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $116.15, for a total transaction of $6,620,550.00. Following the transaction, the executive vice president directly owned 55,655 shares in the company, valued at $6,464,328.25. This represents a 50.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM traded down $0.54 during mid-day trading on Friday, reaching $115.48. The stock had a trading volume of 334,875 shares, compared to its average volume of 730,495. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of -37.13 and a beta of 1.92. Rhythm Pharmaceuticals, Inc. has a 12 month low of $74.50 and a 12 month high of $122.20. The business has a fifty day moving average of $105.44 and a 200 day moving average of $96.45.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.81) by $0.08. The firm had revenue of $71.25 million during the quarter, compared to analysts' expectations of $67.66 million. Rhythm Pharmaceuticals had a negative net margin of 85.59% and a negative return on equity of 159.87%. The company's revenue for the quarter was up 46.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.75) earnings per share. On average, research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -2.82 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on RYTM. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rhythm Pharmaceuticals in a research note on Friday, July 17th. National Bank Financial set a $160.00 price objective on Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. JPMorgan Chase & Co. upped their price objective on Rhythm Pharmaceuticals from $145.00 to $146.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Wall Street Zen upgraded Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Citizens Jmp lifted their target price on Rhythm Pharmaceuticals from $155.00 to $160.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 5th. Fifteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $142.44.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in Rhythm Pharmaceuticals by 36.3% during the second quarter. GAMMA Investing LLC now owns 364 shares of the company's stock valued at $40,000 after acquiring an additional 97 shares in the last quarter. Xponance LLC lifted its stake in Rhythm Pharmaceuticals by 2.6% in the 4th quarter. Xponance LLC now owns 4,269 shares of the company's stock worth $457,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Rhythm Pharmaceuticals by 39.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company's stock worth $43,000 after purchasing an additional 113 shares in the last quarter. Captrust Financial Advisors lifted its stake in Rhythm Pharmaceuticals by 0.7% in the 2nd quarter. Captrust Financial Advisors now owns 17,471 shares of the company's stock worth $1,104,000 after purchasing an additional 114 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Rhythm Pharmaceuticals by 73.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company's stock valued at $37,000 after purchasing an additional 145 shares during the last quarter.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company's research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company's lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.

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