Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Sells 344 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German sold 344 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $54.23, for a total value of $18,655.12. Following the completion of the sale, the chief accounting officer now directly owns 2,889 shares of the company’s stock, valued at $156,670.47. The trade was a 10.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Christopher Paul German also recently made the following trade(s):

• On Wednesday, February 19th, Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70.

Rhythm Pharmaceuticals Stock Down 1.5 %

RYTM opened at $52.91 on Wednesday. The firm has a 50-day moving average price of $55.28 and a 200-day moving average price of $54.99. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of -12.22 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). The business had revenue of $41.83 million during the quarter, compared to analysts’ expectations of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. On average, sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its stake in Rhythm Pharmaceuticals by 158.0% in the 3rd quarter. Victory Capital Management Inc. now owns 18,186 shares of the company’s stock worth $953,000 after purchasing an additional 11,137 shares during the period. Quest Partners LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 451.6% in the third quarter. Quest Partners LLC now owns 9,167 shares of the company’s stock worth $480,000 after buying an additional 7,505 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Rhythm Pharmaceuticals in the third quarter valued at approximately $649,000. Charles Schwab Investment Management Inc. grew its stake in Rhythm Pharmaceuticals by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 433,866 shares of the company’s stock valued at $22,730,000 after acquiring an additional 5,908 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth approximately $1,313,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RYTM. The Goldman Sachs Group upped their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Jefferies Financial Group initiated coverage on Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 target price for the company. Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They issued a “buy” rating and a $78.00 price objective on the stock. Canaccord Genuity Group raised their target price on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC boosted their price target on shares of Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.46.

About Rhythm Pharmaceuticals

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.