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.   Stockwinners

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.

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