Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Director Sells $868,924.65 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Director Lynn A. Tetrault sold 17,501 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $49.65, for a total transaction of $868,924.65. Following the sale, the director now owns 3,000 shares in the company, valued at approximately $148,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ RYTM opened at $49.31 on Thursday. The firm has a fifty day moving average of $46.97 and a 200 day moving average of $42.73. Rhythm Pharmaceuticals, Inc. has a one year low of $20.97 and a one year high of $53.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, August 6th. The company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.16. The business had revenue of $29.08 million during the quarter, compared to analysts’ expectations of $28.79 million. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The company’s quarterly revenue was up 51.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.82) earnings per share. As a group, equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. CWM LLC increased its position in shares of Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after purchasing an additional 253 shares in the last quarter. ORG Partners LLC acquired a new position in Rhythm Pharmaceuticals in the 2nd quarter valued at about $51,000. Quest Partners LLC lifted its holdings in Rhythm Pharmaceuticals by 513.3% during the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after buying an additional 1,391 shares in the last quarter. Quarry LP purchased a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth $69,000. Finally, ZRC Wealth Management LLC boosted its holdings in Rhythm Pharmaceuticals by 392.8% in the first quarter. ZRC Wealth Management LLC now owns 1,971 shares of the company’s stock valued at $85,000 after purchasing an additional 1,571 shares during the period.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.83.

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.