Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells 794 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 794 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $57.51, for a total transaction of $45,662.94. Following the completion of the sale, the insider now owns 6 shares of the company’s stock, valued at approximately $345.06. The trade was a 99.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, February 4th, Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $59.43, for a total transaction of $76,129.83.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM opened at $57.64 on Thursday. The company has a 50-day simple moving average of $57.11 and a two-hundred day simple moving average of $53.51. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its stake in Rhythm Pharmaceuticals by 26.3% in the third quarter. Exchange Traded Concepts LLC now owns 15,057 shares of the company’s stock worth $789,000 after purchasing an additional 3,137 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter worth about $63,000. Creative Planning bought a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter worth about $450,000. Hennion & Walsh Asset Management Inc. lifted its position in Rhythm Pharmaceuticals by 4.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 100,961 shares of the company’s stock valued at $5,289,000 after acquiring an additional 4,583 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Rhythm Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after acquiring an additional 391 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RYTM. The Goldman Sachs Group lifted their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. TD Cowen lifted their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Oppenheimer started coverage on Rhythm Pharmaceuticals in a research note on Friday, December 20th. They set an “outperform” rating and a $76.00 price objective for the company. Needham & Company LLC lifted their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, HC Wainwright reissued a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.