Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Free Report) insider Joseph Shulman sold 5,313 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $50.01, for a total value of $265,703.13. Following the sale, the insider now owns 30 shares in the company, valued at approximately $1,500.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Joseph Shulman also recently made the following trade(s):
- On Tuesday, July 16th, Joseph Shulman sold 10,468 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $53.00, for a total value of $554,804.00.
- On Thursday, May 9th, Joseph Shulman sold 3,984 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $38.47, for a total value of $153,264.48.
Rhythm Pharmaceuticals Price Performance
Shares of NASDAQ:RYTM opened at $49.26 on Friday. The business’s 50-day moving average is $41.42 and its 200-day moving average is $42.27. Rhythm Pharmaceuticals, Inc. has a 1 year low of $16.72 and a 1 year high of $53.92.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Rhythm Pharmaceuticals by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,014,568 shares of the company’s stock valued at $69,109,000 after buying an additional 85,139 shares in the last quarter. Whittier Trust Co. bought a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at about $92,000. JGP Global Gestao de Recursos Ltda. bought a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at about $261,000. China Universal Asset Management Co. Ltd. increased its position in Rhythm Pharmaceuticals by 368.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,837 shares of the company’s stock valued at $314,000 after buying an additional 5,379 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Rhythm Pharmaceuticals by 91.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,256 shares of the company’s stock valued at $58,000 after buying an additional 600 shares in the last quarter.
Analyst Upgrades and Downgrades
Several brokerages have commented on RYTM. Canaccord Genuity Group cut their target price on Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Bank of America downgraded Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their target price for the stock from $49.00 to $42.00 in a report on Wednesday, May 8th. Needham & Company LLC cut their target price on Rhythm Pharmaceuticals from $50.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Finally, Wells Fargo & Company cut their target price on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $54.33.
Get Our Latest Research Report on RYTM
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.
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