Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Sells 4,189 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 4,189 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $58.91, for a total value of $246,773.99. Following the completion of the sale, the executive vice president now owns 4,409 shares in the company, valued at $259,734.19. The trade was a 48.72 % 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 Tuesday, February 4th, Jennifer Kayden Lee sold 1,447 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $59.43, for a total value of $85,995.21.

Rhythm Pharmaceuticals Trading Up 0.1 %

Shares of RYTM stock opened at $57.64 on Thursday. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The stock has a market capitalization of $3.54 billion, a P/E ratio of -13.31 and a beta of 2.14. The firm’s 50 day moving average is $57.11 and its 200 day moving average is $53.51.

Wall Street Analyst Weigh In

RYTM has been the subject of several analyst reports. TD Cowen raised their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Guggenheim assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 21st. They set a “buy” rating and a $70.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Needham & Company LLC increased their price target on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.09.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Frazier Life Sciences Management L.P. increased its position in Rhythm Pharmaceuticals by 1.9% during the third quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock valued at $126,624,000 after acquiring an additional 45,648 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Rhythm Pharmaceuticals by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock valued at $65,824,000 after purchasing an additional 3,499 shares during the period. Alkeon Capital Management LLC increased its position in shares of Rhythm Pharmaceuticals by 16.8% during the 3rd quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock valued at $61,176,000 after purchasing an additional 167,700 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Rhythm Pharmaceuticals by 14.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock worth $58,208,000 after purchasing an additional 143,800 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Rhythm Pharmaceuticals in the third quarter worth approximately $33,353,000.

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.