Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Sells 635 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German sold 635 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $36,334.70. Following the completion of the transaction, the chief accounting officer now directly owns 2,070 shares in the company, valued at $118,445.40. This represents a 23.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock opened at $58.00 on Thursday. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58. The stock’s 50 day simple moving average is $57.06 and its two-hundred day simple moving average is $53.86.

Institutional Trading of Rhythm Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Loomis Sayles & Co. L P acquired a new position in Rhythm Pharmaceuticals in the third quarter valued at about $33,353,000. Janus Henderson Group PLC lifted its position in shares of Rhythm Pharmaceuticals by 103.9% during the 4th 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 last quarter. Marshall Wace LLP raised its position in shares of Rhythm Pharmaceuticals by 70.4% during the 4th quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock worth $38,783,000 after acquiring an additional 286,188 shares in the last quarter. Norges Bank acquired a new stake in Rhythm Pharmaceuticals during the fourth quarter worth approximately $11,512,000. Finally, JPMorgan Chase & Co. boosted its stake in Rhythm Pharmaceuticals by 224.3% in the fourth quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company’s stock valued at $14,811,000 after acquiring an additional 182,993 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RYTM shares. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. Oppenheimer assumed coverage on shares of Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.09.

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.