Rhythm Pharmaceuticals (NASDAQ:RYTM) Insider Joseph Shulman Sells 9,748 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 9,748 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $115.24, for a total transaction of $1,123,359.52. Following the sale, the insider directly owned 8,509 shares of the company’s stock, valued at $980,577.16. The trade was a 53.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, October 28th, Joseph Shulman sold 2,815 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $115.01, for a total transaction of $323,753.15.
• 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 Price Performance

NASDAQ RYTM opened at $113.74 on Tuesday. The firm’s 50-day moving average is $103.15 and its two-hundred day moving average is $83.92. Rhythm Pharmaceuticals, Inc. has a 12 month low of $45.90 and a 12 month high of $116.00. The stock has a market capitalization of $7.55 billion, a P/E 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 company had revenue of $48.50 million during the quarter, compared to analyst estimates of $43.72 million. During the same period in the previous year, the company earned ($0.55) EPS. The company’s quarterly revenue was up 66.8% compared to the same quarter last year. As a group, analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Analysts Set New Price Targets

RYTM has been the topic of several research reports. Oppenheimer increased their price target on shares of Rhythm Pharmaceuticals from $76.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Leerink Partnrs raised shares of Rhythm Pharmaceuticals to a “strong-buy” rating in a research report on Monday, July 7th. Needham & Company LLC reissued a “buy” rating and set a $95.00 price target (up previously from $72.00) on shares of Rhythm Pharmaceuticals in a research report on Wednesday, July 9th. Canaccord Genuity Group increased their price target on shares of Rhythm Pharmaceuticals from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, Morgan Stanley increased their price target on shares of Rhythm Pharmaceuticals from $122.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $107.21.

Institutional Trading of Rhythm Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its holdings in Rhythm Pharmaceuticals by 2.5% in the third quarter. Federated Hermes Inc. now owns 1,727,885 shares of the company’s stock valued at $174,499,000 after acquiring an additional 41,391 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Rhythm Pharmaceuticals by 21.5% in the second quarter. Westfield Capital Management Co. LP now owns 1,629,468 shares of the company’s stock valued at $102,966,000 after acquiring an additional 288,376 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Rhythm Pharmaceuticals by 12.9% in the first quarter. Driehaus Capital Management LLC now owns 1,458,022 shares of the company’s stock valued at $77,231,000 after acquiring an additional 167,047 shares in the last quarter. Geode Capital Management LLC raised its holdings in Rhythm Pharmaceuticals by 1.9% in the second quarter. Geode Capital Management LLC now owns 1,311,253 shares of the company’s stock valued at $82,868,000 after acquiring an additional 24,085 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Rhythm Pharmaceuticals by 75.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,199,053 shares of the company’s stock valued at $63,515,000 after acquiring an additional 513,901 shares in the last quarter.

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.