Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Director Lynn A. Tetrault Sells 17,501 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Director Lynn A. Tetrault sold 17,501 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $49.65, for a total transaction of $868,924.65. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $148,950. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Rhythm Pharmaceuticals Stock Up 0.4 %

Shares of NASDAQ:RYTM opened at $49.31 on Thursday. The business’s 50-day moving average is $46.97 and its 200 day moving average is $42.73. Rhythm Pharmaceuticals, Inc. has a 1 year low of $20.97 and a 1 year high of $53.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.16. The firm had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.79 million. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The company’s revenue for the quarter was up 51.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.82) earnings per share. On average, equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RYTM. CWM LLC raised its stake in Rhythm Pharmaceuticals by 62.6% in the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after acquiring an additional 253 shares during the last quarter. American International Group Inc. lifted its stake 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 acquiring an additional 781 shares during the period. ORG Partners LLC purchased a new stake in Rhythm Pharmaceuticals in the second quarter valued at $51,000. Principal Financial Group Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 20.6% in the first quarter. Principal Financial Group Inc. now owns 7,180 shares of the company’s stock worth $311,000 after buying an additional 1,227 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in Rhythm Pharmaceuticals by 513.3% during the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after acquiring an additional 1,391 shares during the period.

About Rhythm Pharmaceuticals

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.