Rhythm Pharmaceuticals (NASDAQ:RYTM) Insider Joseph Shulman Sells 2,815 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 2,815 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $115.01, for a total transaction of $323,753.15. Following the sale, the insider owned 8,509 shares in the company, valued at approximately $978,620.09. This trade represents a 24.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Thursday, October 16th, Joseph Shulman sold 14,437 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $112.03, for a total value of $1,617,377.11.
• On Thursday, August 21st, Joseph Shulman sold 4,188 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $100.07, for a total value of $419,093.16.
• On Monday, August 11th, Joseph Shulman sold 3,984 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $90.08, for a total value of $358,878.72.

Rhythm Pharmaceuticals Trading Down 1.8%

Rhythm Pharmaceuticals stock opened at $111.81 on Friday. The firm has a market capitalization of $7.43 billion, a P/E ratio of -37.15 and a beta of 2.12. The stock has a fifty day moving average price of $102.65 and a 200 day moving average price of $82.88. Rhythm Pharmaceuticals, Inc. has a 52 week low of $45.90 and a 52 week high of $116.00.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, August 5th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.09). The business had revenue of $48.50 million during the quarter, compared to analyst estimates of $43.72 million. Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%. The business’s revenue for the quarter was up 66.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.55) earnings per share. As a group, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in shares of Rhythm Pharmaceuticals by 1,386.2% in the first quarter. PNC Financial Services Group Inc. now owns 4,518 shares of the company’s stock worth $239,000 after buying an additional 4,214 shares during the period. Rhumbline Advisers boosted its position in shares of Rhythm Pharmaceuticals by 3.6% in the first quarter. Rhumbline Advisers now owns 85,719 shares of the company’s stock worth $4,541,000 after buying an additional 2,988 shares during the period. Siren L.L.C. purchased a new stake in shares of Rhythm Pharmaceuticals in the first quarter worth about $14,701,000. Voleon Capital Management LP purchased a new stake in shares of Rhythm Pharmaceuticals in the first quarter worth about $732,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Rhythm Pharmaceuticals by 44.9% in the first quarter. Advisors Asset Management Inc. now owns 10,250 shares of the company’s stock worth $543,000 after buying an additional 3,176 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Bank of America upped their target price on Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. Guggenheim upped their target price on Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Leerink Partners started coverage on Rhythm Pharmaceuticals in a research report on Monday, July 7th. They set an “outperform” rating and a $88.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Morgan Stanley boosted their price target on Rhythm Pharmaceuticals from $122.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.21.

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.