Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee Sells 66,861 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 66,861 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the transaction, the executive vice president now directly owns 972 shares of the company’s stock, valued at $64,472.76. This trade represents a 98.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock opened at $59.77 on Friday. Rhythm Pharmaceuticals, Inc. has a 1-year low of $30.90 and a 1-year high of $68.58. The firm has a market capitalization of $3.67 billion, a P/E ratio of -13.80 and a beta of 2.09. The company’s 50-day moving average is $52.00 and its 200 day moving average is $46.34.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. During the same period in the prior year, the company posted ($0.76) EPS. The firm’s revenue for the quarter was up 47.6% on a year-over-year basis. Research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Bank of America increased their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Guggenheim assumed coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They set a “buy” rating and a $70.00 price objective for the company. Canaccord Genuity Group increased their price target on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. JMP Securities assumed coverage on shares of Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price target for the company. Finally, HC Wainwright increased their price target on shares of Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.30.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of institutional investors have recently modified their holdings of RYTM. CWM LLC increased its position in shares of Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after acquiring an additional 253 shares during the period. ORG Partners LLC purchased a new position in shares of Rhythm Pharmaceuticals during the second quarter worth approximately $51,000. ORG Wealth Partners LLC purchased a new position in shares of Rhythm Pharmaceuticals during the third quarter worth approximately $63,000. Quest Partners LLC increased its position in shares of Rhythm Pharmaceuticals by 513.3% during the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after acquiring an additional 1,391 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Rhythm Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after acquiring an additional 391 shares during the period.

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.