Rhythm Pharmaceuticals (NASDAQ:RYTM) Insider Sells $323,753.15 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 2,815 shares of the stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $115.01, for a total transaction of $323,753.15. Following the sale, the insider directly owned 8,509 shares of the company’s stock, valued at $978,620.09. The trade was a 24.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, October 16th, Joseph Shulman sold 14,437 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $112.03, for a total transaction of $1,617,377.11.
• 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 transaction 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 transaction of $358,878.72.

Rhythm Pharmaceuticals Stock Up 1.7%

NASDAQ:RYTM opened at $113.76 on Friday. Rhythm Pharmaceuticals, Inc. has a 52 week low of $45.90 and a 52 week high of $116.00. The firm has a 50 day moving average of $102.86 and a 200 day moving average of $83.40. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of -37.79 and a beta of 2.12.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted 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 period in the previous year, the company earned ($0.55) EPS. The company’s revenue was up 66.8% on a year-over-year basis. As a group, analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RYTM. Bank of America increased their target price on shares of Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. Citigroup restated an “outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, September 25th. Guggenheim raised their price target on shares of Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Leerink Partners started coverage on shares of Rhythm Pharmaceuticals in a report on Monday, July 7th. They issued an “outperform” rating and a $88.00 price target for the company. Finally, JMP Securities raised their price target on shares of Rhythm Pharmaceuticals from $135.00 to $142.00 and gave the stock a “market outperform” rating in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $107.21.

Institutional Trading of Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in shares of Rhythm Pharmaceuticals by 0.7% in the first quarter. Principal Financial Group Inc. now owns 37,156 shares of the company’s stock worth $1,968,000 after acquiring an additional 272 shares during the period. GF Fund Management CO. LTD. increased its stake in shares of Rhythm Pharmaceuticals by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,573 shares of the company’s stock worth $83,000 after acquiring an additional 283 shares during the period. Xponance Inc. increased its stake in shares of Rhythm Pharmaceuticals by 4.7% in the first quarter. Xponance Inc. now owns 4,365 shares of the company’s stock worth $231,000 after acquiring an additional 197 shares during the period. CWM LLC increased its stake in shares of Rhythm Pharmaceuticals by 92.3% in the first quarter. CWM LLC now owns 2,584 shares of the company’s stock worth $137,000 after acquiring an additional 1,240 shares during the period. Finally, Leo Wealth LLC acquired a new stake in shares of Rhythm Pharmaceuticals in the first quarter worth $848,000.

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.