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David Meeker, President and CEO of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM), a $3.55 billion market cap company with impressive gross profit margins of 89%, has recently engaged in a significant stock transaction, according to a recent SEC filing. On February 19, 2025, Meeker sold 9,896 shares of the company’s common stock at a price of $57.22 per share, resulting in a total transaction value of $566,249.
In addition to the sale, Meeker acquired 21,250 shares of common stock on February 16, 2025, through the exercise of restricted stock units. These transactions were part of a pre-established Rule 10b5-1 trading plan, primarily intended to cover withholding taxes associated with the vesting of certain restricted stock units.
Following these transactions, Meeker’s direct ownership stands at 201,281 shares of Rhythm Pharmaceuticals. According to InvestingPro analysis, the stock currently trades above its Fair Value, with high volatility (Beta 2.14) and strong liquidity metrics. For deeper insights into RYTM’s valuation and 12 additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Rhythm Pharmaceuticals reported its third-quarter 2024 earnings, showcasing a growth in revenue driven by strong U.S. and international sales. The company achieved $33.3 million in revenue, with U.S. sales contributing $23.3 million, marking an 8% increase from the previous quarter. International sales also saw a significant rise, reaching $10 million, a 35% increase quarter-over-quarter. In addition to financial results, Rhythm Pharmaceuticals continues to focus on market expansion and product innovation, including the potential label expansion for its product Incybri to cover pediatric patients. Meanwhile, JMP Securities maintained its Market Outperform rating for Rhythm Pharmaceuticals, with a price target of $75, expressing confidence in the upcoming Phase 3 data for setmelanotide, a drug aimed at treating hypothalamic obesity. This data is anticipated to play a pivotal role in the drug’s development and market potential. The company’s strategic focus on rare genetic disorders of obesity, along with its robust pipeline, remains central to its growth strategy.
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