Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Pamela J. Cramer Sells 7,031 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Pamela J. Cramer sold 7,031 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $68.05, for a total value of $478,459.55. Following the completion of the transaction, the insider now directly owns 19,209 shares of the company’s stock, valued at approximately $1,307,172.45. This trade represents a 26.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Rhythm Pharmaceuticals Trading Up 1.0%

NASDAQ:RYTM opened at $67.37 on Wednesday. Rhythm Pharmaceuticals, Inc. has a 12 month low of $39.46 and a 12 month high of $69.89. The stock has a 50 day moving average of $61.45 and a two-hundred day moving average of $57.90. The firm has a market cap of $4.29 billion, a P/E ratio of -15.56 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm had revenue of $37.72 million for the quarter, compared to analysts’ expectations of $40.43 million. During the same quarter last year, the firm posted ($2.35) earnings per share. Rhythm Pharmaceuticals’s quarterly revenue was up 25.9% on a year-over-year basis. On average, research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RYTM shares. Wells Fargo & Company boosted their price objective on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an “overweight” rating in a report on Monday, April 7th. Canaccord Genuity Group boosted their price objective on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, April 8th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Morgan Stanley reissued an “overweight” rating and issued a $72.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Finally, Stifel Nicolaus boosted their price objective on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $76.62.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in shares of Rhythm Pharmaceuticals by 1.0% in the first quarter. Victory Capital Management Inc. now owns 17,326 shares of the company’s stock valued at $918,000 after purchasing an additional 174 shares in the last quarter. Xponance Inc. increased its position in shares of Rhythm Pharmaceuticals by 4.7% during the first quarter. Xponance Inc. now owns 4,365 shares of the company’s stock worth $231,000 after acquiring an additional 197 shares during the period. Principal Financial Group Inc. increased its position in shares of Rhythm Pharmaceuticals by 0.7% during the first quarter. Principal Financial Group Inc. now owns 37,156 shares of the company’s stock worth $1,968,000 after acquiring an additional 272 shares during the period. GF Fund Management CO. LTD. increased its position in shares of Rhythm Pharmaceuticals by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,573 shares of the company’s stock worth $83,000 after acquiring an additional 283 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in Rhythm Pharmaceuticals by 2.3% in the fourth quarter. Two Sigma Advisers LP now owns 13,100 shares of the company’s stock valued at $733,000 after buying an additional 300 shares during the last quarter.

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.