Rhythm Pharmaceuticals (NASDAQ:RYTM) Insider Joseph Shulman Sells 5,079 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 5,079 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $119.75, for a total value of $608,210.25. Following the sale, the insider directly owned 15,915 shares in the company, valued at $1,905,821.25. This represents a 24.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rhythm Pharmaceuticals Trading Down 0.0%

Shares of NASDAQ RYTM opened at $115.44 on Tuesday. The stock has a market cap of $7.91 billion, a P/E ratio of -37.12 and a beta of 1.92. Rhythm Pharmaceuticals, Inc. has a 12-month low of $74.50 and a 12-month high of $122.20. The business’s fifty day simple moving average is $106.03 and its 200-day simple moving average is $96.47.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative return on equity of 159.87% and a negative net margin of 85.59%.The firm had revenue of $71.25 million during the quarter, compared to analyst estimates of $67.66 million. During the same period last year, the business posted ($0.75) earnings per share. Rhythm Pharmaceuticals’s revenue was up 46.9% compared to the same quarter last year. On average, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -2.82 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on RYTM. Wall Street Zen raised Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Stifel Nicolaus set a $133.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, June 15th. JPMorgan Chase & Co. lifted their price target on shares of Rhythm Pharmaceuticals from $145.00 to $146.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Citizens Jmp boosted their price target on shares of Rhythm Pharmaceuticals from $155.00 to $160.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 5th. Finally, Citigroup reissued a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Fifteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.44.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Rhythm Pharmaceuticals by 73.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 145 shares in the last quarter. GAMMA Investing LLC raised its holdings in Rhythm Pharmaceuticals by 36.3% during the second quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Rhythm Pharmaceuticals by 39.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock worth $43,000 after purchasing an additional 113 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals during the 2nd quarter worth approximately $51,000.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.