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Christopher Paul German, the Corporate Controller and Chief Accounting Officer of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM), a $3.39 billion market cap biotech company with impressive gross profit margins of nearly 90%, recently made notable transactions involving the company’s stock. According to InvestingPro data, the stock has shown significant volatility with a beta of 2.3. According to a Form 4 filing with the Securities and Exchange Commission, German sold 344 shares of Rhythm Pharmaceuticals on March 21, 2025, at a price of $54.23 per share. This sale amounted to a total transaction value of $18,655. The transaction occurred with the stock trading near its 52-week range of $35.17 to $68.58, with analysts setting price targets between $60 and $94.
Additionally, on March 20, 2025, German acquired 1,163 shares of common stock through the conversion of restricted stock units. These units were acquired at no cost, as part of his compensation package. Following these transactions, German retains direct ownership of 2,889 shares of Rhythm Pharmaceuticals.
The sale was conducted outside of a Rule 10b5-1 trading plan and was intended to cover withholding taxes associated with the vesting of previously awarded restricted stock units.
In other recent news, Rhythm Pharmaceuticals has been in the spotlight with several key developments. The company recently regained rights to its obesity drug, IMCIVREE® (setmelanotide), in mainland China, Hong Kong, and Macau after terminating its licensing agreement with RareStone Group Ltd. This move is part of Rhythm’s strategy to expand the global reach of setmelanotide, which is approved in the U.S., EU, and UK for certain genetic obesity conditions. Additionally, Rhythm Pharmaceuticals received orphan drug designation in Japan for setmelanotide, aimed at treating acquired hypothalamic obesity, a rare condition characterized by excessive weight gain due to hypothalamic injury.
Analyst firms have shown optimism about Rhythm’s prospects, with H.C. Wainwright maintaining a Buy rating and a $70 price target, and Needham raising the stock target to $66 while also maintaining a Buy rating. Both firms are optimistic about the upcoming Phase 3 trial results for setmelanotide, expected in 2025. Stifel also reiterated a Buy rating with a $78 target, highlighting the potential of Rhythm’s product pipeline, including next-generation MC4R agonists like bivamelagon and RM-718. These developments underscore Rhythm Pharmaceuticals’ ongoing efforts to address unmet medical needs in the field of obesity treatment.
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