Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee Sells 1,447 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 1,447 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $85,995.21. Following the completion of the sale, the executive vice president now owns 4,038 shares in the company, valued at $239,978.34. The trade was a 26.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Jennifer Kayden Lee also recently made the following trade(s):

• On Monday, November 11th, Jennifer Kayden Lee sold 66,861 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $66.33, for a total value of $4,434,890.13.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock opened at $60.01 on Friday. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58. The business has a 50-day simple moving average of $57.37 and a two-hundred day simple moving average of $53.19.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.07. The company had revenue of $33.20 million during the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.76) earnings per share. On average, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.33 EPS for the current year.

Institutional Trading of Rhythm Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Rhythm Pharmaceuticals by 3.5% in the second quarter. The Manufacturers Life Insurance Company now owns 49,291 shares of the company’s stock worth $2,024,000 after buying an additional 1,667 shares in the last quarter. Handelsbanken Fonder AB grew its position in Rhythm Pharmaceuticals by 21.4% in the third quarter. Handelsbanken Fonder AB now owns 19,321 shares of the company’s stock worth $1,012,000 after acquiring an additional 3,400 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Rhythm Pharmaceuticals by 26.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 15,057 shares of the company’s stock valued at $789,000 after purchasing an additional 3,137 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals in the third quarter valued at $63,000. Finally, Creative Planning purchased a new stake in shares of Rhythm Pharmaceuticals in the third quarter worth approximately $450,000.

Wall Street Analyst Weigh In

RYTM has been the topic of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price objective on the stock. Bank of America lifted their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Needham & Company LLC upped their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Oppenheimer assumed coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus 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.