Rhythm Pharmaceuticals (NASDAQ:RYTM) Insider Sells $1,617,377.11 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 14,437 shares of the firm’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $112.03, for a total value of $1,617,377.11. Following the transaction, the insider owned 8,509 shares of the company’s stock, valued at $953,263.27. This trade represents a 62.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, August 21st, Joseph Shulman sold 4,188 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $100.07, for a total value of $419,093.16.
• On Monday, August 11th, Joseph Shulman sold 3,984 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $90.08, for a total value of $358,878.72.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $109.17 on Thursday. The business has a 50-day moving average of $101.04 and a 200 day moving average of $80.50. Rhythm Pharmaceuticals, Inc. has a 12 month low of $45.90 and a 12 month high of $113.91. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of -36.27 and a beta of 2.12.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, August 5th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.09). Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%. The firm had revenue of $48.50 million for the quarter, compared to analysts’ expectations of $43.72 million. During the same quarter last year, the business earned ($0.55) earnings per share. The business’s revenue was up 66.8% compared to the same quarter last year. Equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RYTM shares. Morgan Stanley increased their price target on Rhythm Pharmaceuticals from $122.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Wall Street Zen raised Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Canaccord Genuity Group raised their target price on Rhythm Pharmaceuticals from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Leerink Partners started coverage on Rhythm Pharmaceuticals in a research report on Monday, July 7th. They set an “outperform” rating and a $88.00 target price on the stock. Finally, JMP Securities raised their target price on Rhythm Pharmaceuticals from $135.00 to $142.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.21.

Institutional Trading of Rhythm Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in shares of Rhythm Pharmaceuticals by 1,110.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock worth $35,000 after purchasing an additional 322 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Rhythm Pharmaceuticals during the 1st quarter worth approximately $34,000. Osaic Holdings Inc. raised its position in shares of Rhythm Pharmaceuticals by 65.9% during the 2nd quarter. Osaic Holdings Inc. now owns 979 shares of the company’s stock worth $62,000 after purchasing an additional 389 shares during the period. State of Wyoming acquired a new stake in shares of Rhythm Pharmaceuticals during the 2nd quarter worth approximately $67,000. Finally, GF Fund Management CO. LTD. raised its position in shares of Rhythm Pharmaceuticals by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,573 shares of the company’s stock worth $83,000 after purchasing an additional 283 shares during the period.

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.