Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells 1,281 Shares of Stock

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

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

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

Rhythm Pharmaceuticals Stock Up 0.9 %

RYTM traded up $0.54 on Tuesday, reaching $59.95. 441,491 shares of the company traded hands, compared to its average volume of 515,022. The company has a market cap of $3.68 billion, a P/E ratio of -13.85 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The firm has a fifty day simple moving average of $57.39 and a two-hundred day simple moving average of $53.13.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm had revenue of $33.20 million during the quarter, compared to the consensus estimate of $32.52 million. During the same quarter in the previous year, the firm posted ($0.76) earnings per share. The company’s revenue was up 47.6% on a year-over-year basis. On average, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.33 earnings per share for the current year.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. grew its position in shares of 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 worth $126,624,000 after buying an additional 45,648 shares in the last quarter. Geode Capital Management LLC increased its position in Rhythm Pharmaceuticals by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock valued at $65,824,000 after purchasing an additional 3,499 shares during the period. Alkeon Capital Management LLC raised its holdings in shares of Rhythm Pharmaceuticals by 16.8% in 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Rhythm Pharmaceuticals by 14.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock worth $58,208,000 after purchasing an additional 143,800 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter worth approximately $33,353,000.

Wall Street Analyst Weigh In

RYTM has been the subject of several recent research reports. Guggenheim assumed coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They issued a “buy” rating and a $70.00 price target for the company. The Goldman Sachs Group boosted their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Jefferies Financial Group started coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 price objective for the company. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Needham & Company LLC raised their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.