Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Sells 344 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German sold 344 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $54.23, for a total value of $18,655.12. Following the completion of the transaction, the chief accounting officer now owns 2,889 shares in the company, valued at $156,670.47. The trade was a 10.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Christopher Paul German also recently made the following trade(s):

• On Wednesday, February 19th, Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock traded up $1.68 during trading on Monday, hitting $53.72. The stock had a trading volume of 502,411 shares, compared to its average volume of 485,940. The stock has a market cap of $3.40 billion, a PE ratio of -12.41 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58. The firm’s fifty day simple moving average is $55.28 and its 200-day simple moving average is $54.99.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The business had revenue of $41.83 million for the quarter, compared to analysts’ expectations of $38.48 million. Analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on RYTM. JMP Securities reissued a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Oppenheimer began coverage on Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an “outperform” rating and a $76.00 price target for the company. Needham & Company LLC lifted their price objective on Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Stifel Nicolaus started coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They set a “buy” rating and a $78.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $69.46.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several hedge funds have recently bought and sold shares of RYTM. Frazier Life Sciences Management L.P. lifted 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. Geode Capital Management LLC grew its position in shares of Rhythm Pharmaceuticals by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock worth $65,824,000 after buying an additional 3,499 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Rhythm Pharmaceuticals by 103.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock valued at $68,309,000 after purchasing an additional 621,432 shares in the last quarter. Alkeon Capital Management LLC increased its holdings in Rhythm Pharmaceuticals by 16.8% during the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock valued at $61,176,000 after buying an additional 167,700 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Rhythm Pharmaceuticals by 14.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock worth $58,208,000 after buying an additional 143,800 shares in the last quarter.

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.