Smith Hunter C

Smith Hunter C, Chief Financial Officer of Rhythm Pharmaceuticals (RYTM), has been a consistent net seller of company stock over the past several months, with Form 4 filings showing 41 total transactions and zero open-market purchases. The most recent activity, spanning February and March 2026, reveals a heavy concentration of sales: 21 open-market sells totaling roughly $1.9 million, with individual transactions ranging from about $10,000 to $358,599. The largest single sale occurred on February 5, 2026, at $358,599, followed by a cluster of sales on February 10–11 and February 17–19, 2026, each day featuring multiple transactions of varying sizes. The pattern is unambiguous—every discretionary trade in the recent window is a sale, with no corresponding buys to offset the selling pressure. The selling is not accompanied by any open-market acquisitions, but the filings do show non-discretionary activity that complicates the picture. On February 11, 2026, Smith received two grants (code "A") valued at $0, which are compensation awards rather than purchases. Additionally, two option exercises (code "M") occurred in March and May 2026, valued at $41,473 and $53,610 respectively—these are mechanical conversions that typically precede sales of the underlying shares. The absence of any "P" (purchase) codes across all 41 filings, combined with the steady stream of "S" transactions, points to a clear divestment posture. Over the entire filing history, Smith has sold approximately $8.29 million worth of RYTM stock while acquiring nothing through open-market channels, a ratio that strongly favors a bearish or liquidity-driven interpretation of insider behavior.