Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells 13,281 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 13,281 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $66.44, for a total transaction of $882,389.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rhythm Pharmaceuticals Trading Down 0.5 %

Shares of RYTM stock opened at $59.77 on Friday. The business’s fifty day moving average is $52.00 and its 200 day moving average is $46.34. Rhythm Pharmaceuticals, Inc. has a 52-week low of $30.90 and a 52-week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. The business had revenue of $33.20 million for the quarter, compared to the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company’s revenue for the quarter was up 47.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.76) earnings per share. As a group, equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RYTM has been the subject of a number of recent analyst reports. Canaccord Genuity Group increased their target price on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. JMP Securities assumed coverage on Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They set an “outperform” rating and a $64.00 price objective on the stock. Needham & Company LLC raised their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. HC Wainwright increased their price objective on Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Guggenheim assumed coverage on Rhythm Pharmaceuticals in a report on Monday, October 21st. They set a “buy” rating and a $70.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.30.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RYTM. Bellevue Group AG grew its holdings in shares of Rhythm Pharmaceuticals by 20.8% during the 3rd quarter. Bellevue Group AG now owns 15,700 shares of the company’s stock worth $823,000 after acquiring an additional 2,700 shares during the period. Alkeon Capital Management LLC lifted its position in Rhythm Pharmaceuticals by 16.8% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock valued at $61,176,000 after acquiring an additional 167,700 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Rhythm Pharmaceuticals by 14.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock valued at $58,208,000 after acquiring an additional 143,800 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Rhythm Pharmaceuticals by 307.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company’s stock valued at $756,000 after acquiring an additional 10,882 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 79.7% during the 3rd quarter. FMR LLC now owns 50,295 shares of the company’s stock valued at $2,635,000 after buying an additional 22,306 shares during the period.

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.