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Rhythm Pharmaceuticals Inc is a biopharmaceutical company. It is engaged in development and commercialization of therapies for patients with rare diseases. It is focused on the development and commercialization of peptide therapeutics for the treatment of gastrointestinal, or GI, diseases, and genetic deficiencies that result in metabolic disorders. The company's product candidate is setmelanotide (RM 493), which is a potent, melanocortin 4, or MC4, receptor agonist for the treatment of rare genetic disorders of obesity caused by MC4 pathway deficiencies. Geographically the company generates its revenue from the United states, Germany, and other with the majority being generated from the United states.
Rhythm Pharmaceuticals trades on the NASDAQ stock market under the symbol RYTM.
As of March 28, 2024, RYTM stock price climbed to $43.33 with 798,467 million shares trading.
RYTM has a beta of 2.36, meaning it tends to be more sensitive to market movements. RYTM has a correlation of 0.18 to the broad based SPY ETF.
RYTM has a market cap of $2.56 billion. This is considered a Mid Cap stock.
Last quarter Rhythm Pharmaceuticals reported $24 million in Revenue and -$.70 earnings per share. This fell short of revenue expectation by $-1 million and met earnings estimates .
In the last 3 years, RYTM stock traded as high as $52.57 and as low as $3.04.
The top ETF exchange traded funds that RYTM belongs to (by Net Assets): VTI, XBI, IWM, VXF, IWO.
RYTM has outperformed the market in the last year with a price return of +153.2% while the SPY ETF gained +33.6%. However, in the short term, RYTM had mixed performance relative to the market. It has underperformed in the last 3 months, returning -12.7% vs +10.1% return in SPY. But in the last 2 weeks, RYTM shares have fared better than the market returning +5.8% compared to SPY +1.7%.
RYTM support price is $40.38 and resistance is $43.20 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that RYTM stock will trade within this expected range on the day.