Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells $205,072.97 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Pamela J. Cramer sold 4,099 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $50.03, for a total transaction of $205,072.97. Following the transaction, the insider now directly owns 13,500 shares in the company, valued at approximately $675,405. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Rhythm Pharmaceuticals Price Performance

RYTM traded up $0.22 during trading on Wednesday, hitting $49.31. 420,459 shares of the stock traded hands, compared to its average volume of 555,087. The firm has a 50-day moving average of $46.97 and a 200 day moving average of $42.73. Rhythm Pharmaceuticals, Inc. has a 12-month low of $20.97 and a 12-month high of $53.92. The firm has a market capitalization of $3.01 billion, a P/E ratio of -10.60 and a beta of 2.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The company had revenue of $29.08 million during the quarter, compared to analyst estimates of $28.79 million. During the same period in the prior year, the business posted ($0.82) earnings per share. Rhythm Pharmaceuticals’s revenue for the quarter was up 51.3% on a year-over-year basis. As a group, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of large investors have recently made changes to their positions in the business. CWM LLC raised its holdings in shares of Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after acquiring an additional 253 shares in the last quarter. American International Group Inc. increased its position in Rhythm Pharmaceuticals by 3.1% during the 1st quarter. American International Group Inc. now owns 26,318 shares of the company’s stock valued at $1,140,000 after purchasing an additional 781 shares during the period. ORG Partners LLC bought a new position in Rhythm Pharmaceuticals in the 2nd quarter worth $51,000. Principal Financial Group Inc. lifted its position in shares of Rhythm Pharmaceuticals by 20.6% in the 1st quarter. Principal Financial Group Inc. now owns 7,180 shares of the company’s stock worth $311,000 after purchasing an additional 1,227 shares during the period. Finally, Quest Partners LLC boosted its stake in shares of Rhythm Pharmaceuticals by 513.3% during the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after purchasing an additional 1,391 shares in the last quarter.

Analyst Ratings Changes

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.83.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare 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.