Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO David P. Meeker Sells 9,896 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CEO David P. Meeker sold 9,896 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $566,249.12. Following the transaction, the chief executive officer now owns 201,281 shares in the company, valued at approximately $11,517,298.82. This trade represents a 4.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM opened at $56.07 on Friday. The stock has a 50-day moving average of $57.12 and a 200-day moving average of $53.97. The company has a market cap of $3.45 billion, a PE ratio of -12.95 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $69.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. TD Cowen increased their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group increased their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Oppenheimer began coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 price target on the stock. Finally, Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target on the stock. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $68.09.

Institutional Trading of Rhythm Pharmaceuticals

Large investors have recently made changes to their positions in the company. SRS Capital Advisors Inc. grew its stake in shares of Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after buying an additional 400 shares during the period. Raleigh Capital Management Inc. acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $37,000. R Squared Ltd acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $44,000. Finally, State of Wyoming acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $61,000.

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.