Rhythm Pharmaceuticals (NASDAQ:RYTM) Insider Sells $608,210.25 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 5,079 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $119.75, for a total transaction of $608,210.25. Following the completion of the transaction, the insider owned 15,915 shares of the company’s stock, valued at $1,905,821.25. This represents a 24.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM stock traded down $0.04 during midday trading on Monday, reaching $115.44. 412,048 shares of the company were exchanged, compared to its average volume of 787,953. The company’s 50 day moving average price is $105.44 and its two-hundred day moving average price is $96.40. The company has a market cap of $7.91 billion, a P/E ratio of -37.12 and a beta of 1.92. Rhythm Pharmaceuticals, Inc. has a 12 month low of $74.50 and a 12 month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative net margin of 85.59% and a negative return on equity of 159.87%. The business had revenue of $71.25 million for the quarter, compared to analyst estimates of $67.66 million. During the same quarter last year, the business earned ($0.75) earnings per share. The business’s revenue for the quarter was up 46.9% on a year-over-year basis. As a group, sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -2.82 earnings per share for the current year.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of Rhythm Pharmaceuticals by 36.3% in the second quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after buying an additional 97 shares during the last quarter. Xponance LLC boosted its stake in shares of Rhythm Pharmaceuticals by 2.6% during the 4th quarter. Xponance LLC now owns 4,269 shares of the company’s stock worth $457,000 after acquiring an additional 107 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Rhythm Pharmaceuticals by 39.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after acquiring an additional 113 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Rhythm Pharmaceuticals by 0.7% during the 2nd quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock valued at $1,104,000 after acquiring an additional 114 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of Rhythm Pharmaceuticals by 73.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 145 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RYTM. Stifel Nicolaus set a $133.00 price objective on Rhythm Pharmaceuticals in a research note on Monday, June 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, July 17th. JPMorgan Chase & Co. lifted their target price on Rhythm Pharmaceuticals from $145.00 to $146.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Wells Fargo & Company boosted their price target on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Finally, Canaccord Genuity Group set a $154.00 price target on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 5th. Fifteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.44.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.