Alastair Garfield Sells 7,763 Shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Alastair Garfield sold 7,763 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $117.57, for a total value of $912,695.91. Following the completion of the transaction, the insider directly owned 2,295 shares of the company’s stock, valued at approximately $269,823.15. This trade represents a 77.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rhythm Pharmaceuticals Stock Down 0.2%

Shares of NASDAQ:RYTM opened at $115.25 on Wednesday. Rhythm Pharmaceuticals, Inc. has a 52-week low of $74.50 and a 52-week high of $122.20. The stock’s fifty day simple moving average is $106.57 and its 200-day simple moving average is $96.56. The company has a market capitalization of $7.90 billion, a P/E ratio of -37.06 and a beta of 1.92.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RYTM shares. Wall Street Zen raised shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. TD Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 17th. Royal Bank Of Canada raised their target price on shares of Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, July 17th. Finally, Citigroup reiterated a “market outperform” rating 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its position in shares of Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in Rhythm Pharmaceuticals by 73.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 145 shares during the period. GAMMA Investing LLC increased its position in Rhythm Pharmaceuticals by 36.3% during the second quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Rhythm Pharmaceuticals by 39.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock worth $43,000 after purchasing an additional 113 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new position in Rhythm Pharmaceuticals during the second quarter worth approximately $51,000.

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.