Long Position on RYTM @ $30.50 on 1/26/2023 (Momentum)
Rhythm Pharmaceuticals, Inc. (RYTM) focuses on the development and commercialization of therapeutics for the treatment of rare genetic diseases of obesity. 
The company's lead product candidate is IMCIVREE, a potent 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.
It is also developing setmelanotide, which is in Phase II clinical trials for treating POMC or LEPR heterozygous deficiency obesities, steroid receptor coactivator 1 deficiency obesity, SH2B1 deficiency obesity, MC4 receptor deficiency obesity, Smith-Magenis syndrome obesity, POMC epigenetic disorders, and other MC4R disorders. Rhythm
Pharmaceuticals, Inc. has a collaborative research agreement with the Clinical Registry Investigating Bardet-Biedl Syndrome.
Shares are heading higher in an upward trading channel. On November 21, Rhythm announced that Great Britain’s Medicines & Healthcare products Regulatory Agency (MHRA) has expanded the marketing authorization for IMCIVREE® (setmelanotide) to include the treatment of obesity and control of hunger associated with genetically confirmed Bardet-Biedl syndrome (BBS) in adult and pediatric patients 6 years of age and older.
Higher share prices are expected for this stock.
- Entry Point: $30.50
- Trading Range: $3.04 to $34.99
- Stop Loss: $29.00
- Target Price: $34.00
Position closed on 1/30/2023 at price of $29.00 with a -4.92% loss in 4 days.