Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Joseph Shulman Sells 13,281 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 13,281 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $66.44, for a total value of $882,389.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rhythm Pharmaceuticals Stock Performance

RYTM stock traded down $3.99 during mid-day trading on Wednesday, reaching $60.07. 849,858 shares of the stock traded hands, compared to its average volume of 547,327. Rhythm Pharmaceuticals, Inc. has a one year low of $29.38 and a one year high of $68.58. The business has a 50-day moving average price of $52.00 and a two-hundred day moving average price of $46.34. The stock has a market capitalization of $3.69 billion, a PE ratio of -13.87 and a beta of 2.09.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.07. The firm had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Rhythm Pharmaceuticals’s revenue was up 47.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.76) EPS. On average, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its stake in Rhythm Pharmaceuticals by 62.6% during the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after purchasing an additional 253 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after purchasing an additional 391 shares during the period. American International Group Inc. increased its position in shares of Rhythm Pharmaceuticals by 3.1% in the first quarter. American International Group Inc. now owns 26,318 shares of the company’s stock valued at $1,140,000 after acquiring an additional 781 shares during the last quarter. ORG Partners LLC bought a new position in Rhythm Pharmaceuticals during the second quarter worth about $51,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of Rhythm Pharmaceuticals in the third quarter valued at approximately $63,000.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Bank of America lifted their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. JMP Securities started coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price target for the company. TD Cowen increased their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Guggenheim initiated coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They issued a “buy” rating and a $70.00 target price on the stock. Finally, Canaccord Genuity Group raised their price objective on Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.30.

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.