Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Joseph Shulman Sells 3,984 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 3,984 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $90.08, for a total transaction of $358,878.72. Following the transaction, the insider owned 8,509 shares of the company’s stock, valued at approximately $766,490.72. This represents a 31.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, July 9th, Joseph Shulman sold 7,969 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $77.78, for a total transaction of $619,828.82.

Rhythm Pharmaceuticals Stock Performance

NASDAQ:RYTM opened at $97.86 on Thursday. The firm’s fifty day moving average is $77.27 and its 200-day moving average is $64.48. Rhythm Pharmaceuticals, Inc. has a 52 week low of $43.57 and a 52 week high of $99.04. The firm has a market cap of $6.50 billion, a P/E ratio of -32.51 and a beta of 2.38.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RYTM. Westfield Capital Management Co. LP purchased a new stake in shares of Rhythm Pharmaceuticals in the first quarter valued at about $71,038,000. JPMorgan Chase & Co. raised its holdings in shares of Rhythm Pharmaceuticals by 445.5% in the second quarter. JPMorgan Chase & Co. now owns 783,559 shares of the company’s stock valued at $49,513,000 after purchasing an additional 639,919 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Rhythm Pharmaceuticals by 103.9% in 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 during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Rhythm Pharmaceuticals by 75.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,199,053 shares of the company’s stock worth $63,515,000 after buying an additional 513,901 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Rhythm Pharmaceuticals by 70.4% during the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock worth $38,783,000 after buying an additional 286,188 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Leerink Partnrs upgraded shares of Rhythm Pharmaceuticals to a “strong-buy” rating in a research report on Monday, July 7th. Guggenheim upped their price objective on shares of Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Morgan Stanley reiterated an “overweight” rating and set a $109.00 price objective (up from $100.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, August 5th. JMP Securities upped their price objective on shares of Rhythm Pharmaceuticals from $130.00 to $135.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 6th. Finally, Stifel Nicolaus boosted their target price on shares of Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $101.57.

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.