Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells $76,129.83 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $76,129.83. Following the completion of the sale, the insider now owns 2,657 shares of the company’s stock, valued at $157,905.51. The trade was a 32.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Joseph Shulman also recently made the following trade(s):

• On Monday, November 11th, Joseph Shulman sold 13,281 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $66.44, for a total transaction of $882,389.64.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM traded up $0.54 during mid-day trading on Tuesday, reaching $59.95. 441,491 shares of the company traded hands, compared to its average volume of 515,022. The company’s 50 day moving average price is $57.39 and its 200-day moving average price is $53.13. The firm has a market cap of $3.68 billion, a PE ratio of -13.85 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. The firm had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company’s revenue for the quarter was up 47.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.76) earnings per share. On average, research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RYTM. Loomis Sayles & Co. L P purchased a new position in shares of Rhythm Pharmaceuticals in the third quarter valued at about $33,353,000. Alkeon Capital Management LLC raised its stake in Rhythm Pharmaceuticals by 16.8% during the 3rd quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock valued at $61,176,000 after purchasing an additional 167,700 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Rhythm Pharmaceuticals by 14.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock valued at $58,208,000 after purchasing an additional 143,800 shares during the period. Barclays PLC boosted its stake in Rhythm Pharmaceuticals by 79.6% in the 3rd quarter. Barclays PLC now owns 106,397 shares of the company’s stock worth $5,574,000 after purchasing an additional 47,166 shares during the period. Finally, Frazier Life Sciences Management L.P. grew its holdings in Rhythm Pharmaceuticals by 1.9% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock valued at $126,624,000 after buying an additional 45,648 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RYTM shares. Oppenheimer started coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 price objective on the stock. Guggenheim assumed coverage on Rhythm Pharmaceuticals in a research note on Monday, October 21st. They issued a “buy” rating and a $70.00 price target on the stock. TD Cowen lifted their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. Finally, Bank of America boosted their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.09.

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.