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

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 13,281 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ RYTM opened at $60.07 on Thursday. The stock has a market cap of $3.69 billion, a P/E ratio of -13.87 and a beta of 2.09. Rhythm Pharmaceuticals, Inc. has a 52-week low of $29.38 and a 52-week high of $68.58. The firm has a 50 day moving average price of $52.00 and a 200 day moving average price of $46.34.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The company had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. During the same period in the prior year, the firm earned ($0.76) earnings per share. Rhythm Pharmaceuticals’s revenue for the quarter was up 47.6% compared to the same quarter last year. Analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Swiss National Bank lifted its holdings in Rhythm Pharmaceuticals by 4.0% during the 1st quarter. Swiss National Bank now owns 93,300 shares of the company’s stock valued at $4,043,000 after purchasing an additional 3,600 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Rhythm Pharmaceuticals by 85.8% during the 1st quarter. Sei Investments Co. now owns 11,470 shares of the company’s stock worth $497,000 after buying an additional 5,296 shares during the period. ProShare Advisors LLC grew its stake in Rhythm Pharmaceuticals by 12.4% in the 1st quarter. ProShare Advisors LLC now owns 13,808 shares of the company’s stock valued at $598,000 after buying an additional 1,527 shares during the last quarter. Vanguard Group Inc. raised its holdings in Rhythm Pharmaceuticals by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company’s stock valued at $143,169,000 after acquiring an additional 77,208 shares during the period. Finally, National Bank of Canada FI lifted its position in Rhythm Pharmaceuticals by 53.8% during the first quarter. National Bank of Canada FI now owns 367,517 shares of the company’s stock worth $15,925,000 after acquiring an additional 128,517 shares during the last quarter.

Wall Street Analyst Weigh In

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