Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Sells $18,655.12 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German sold 344 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 2,889 shares of the company’s stock, valued at $156,670.47. This trade represents a 10.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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 stock was sold at an average price of $57.22, for a total transaction of $36,334.70.

Rhythm Pharmaceuticals Stock Up 2.6 %

Shares of Rhythm Pharmaceuticals stock opened at $54.30 on Thursday. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of -12.54 and a beta of 2.30. The business has a fifty day simple moving average of $55.26 and a 200-day simple moving average of $55.02. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58.

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

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. raised its stake 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 purchasing an additional 45,648 shares during the period. Geode Capital Management LLC raised its position in Rhythm Pharmaceuticals by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,256,188 shares of the company’s stock valued at $65,824,000 after buying an additional 3,499 shares during the period. Janus Henderson Group PLC raised its position in 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 buying an additional 621,432 shares during the period. Alkeon Capital Management LLC lifted its stake in Rhythm Pharmaceuticals by 16.8% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock worth $61,176,000 after acquiring an additional 167,700 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position 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 worth $58,208,000 after acquiring an additional 143,800 shares during the period.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Needham & Company LLC raised their price target on shares of Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Stifel Nicolaus initiated coverage on shares of Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They issued a “buy” rating and a $78.00 target price on the stock. Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a “buy” rating and a $80.00 target price for the company. The Goldman Sachs Group increased their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Morgan Stanley restated an “overweight” rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $69.46.

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.