Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Joseph Shulman Sells 1,281 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 1,281 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $76,129.83. Following the sale, the insider now directly owns 2,657 shares in the company, valued at $157,905.51. The trade was a 32.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, November 11th, Joseph Shulman sold 13,281 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $66.44, for a total value of $882,389.64.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock opened at $61.02 on Thursday. The company has a market cap of $3.75 billion, a price-to-earnings ratio of -14.09 and a beta of 2.14. The firm has a 50-day moving average of $57.37 and a 200-day moving average of $53.19. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.07. The firm had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.76) earnings per share. As a group, sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.33 earnings per share for the current year.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in RYTM. The Manufacturers Life Insurance Company grew its stake in shares of Rhythm Pharmaceuticals by 3.5% in the second quarter. The Manufacturers Life Insurance Company now owns 49,291 shares of the company’s stock valued at $2,024,000 after buying an additional 1,667 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Rhythm Pharmaceuticals by 21.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 19,321 shares of the company’s stock valued at $1,012,000 after acquiring an additional 3,400 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Rhythm Pharmaceuticals by 26.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 15,057 shares of the company’s stock valued at $789,000 after purchasing an additional 3,137 shares during the period. ORG Wealth Partners LLC acquired a new stake in Rhythm Pharmaceuticals in the 3rd quarter valued at about $63,000. Finally, Creative Planning acquired a new stake in Rhythm Pharmaceuticals in the 3rd quarter valued at about $450,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RYTM shares. HC Wainwright reiterated a “buy” rating and issued a $69.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price target for the company. Guggenheim assumed coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They set a “buy” rating and a $70.00 price objective on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. Finally, JMP Securities reissued a “market outperform” rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.09.

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.