Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) posted its quarterly earnings data on Tuesday. The company reported ($1.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($1.38), Bloomberg Earnings reports.
Rhythm Pharmaceuticals (NASDAQ RYTM) traded down $1.44 during trading hours on Wednesday, hitting $24.02. The company had a trading volume of 87,200 shares, compared to its average volume of 277,446. Rhythm Pharmaceuticals has a 12-month low of $21.38 and a 12-month high of $33.81.
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In other news, insider Bros. Advisors Lp Baker purchased 885,000 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The stock was bought at an average cost of $17.00 per share, with a total value of $15,045,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David P. Meeker purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The shares were purchased at an average cost of $17.00 per share, with a total value of $425,000.00. The disclosure for this purchase can be found here. Insiders have purchased 1,285,000 shares of company stock valued at $21,845,000 in the last quarter.
About Rhythm Pharmaceuticals
Rhythm Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of peptide therapeutics for the treatment of rare genetic deficiencies that result in life-threatening metabolic disorders. The Company’s lead peptide product candidate is setmelanotide, a potent, first-in-class melanocortin-4 receptor, or MC4R, agonist for the treatment of rare genetic disorders of obesity.
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