Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells $70,266.16 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 1,228 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $70,266.16. Following the transaction, the insider now directly owns 8,509 shares in the company, valued at approximately $486,884.98. The trade was a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, February 11th, Joseph Shulman sold 794 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $57.51, for a total value of $45,662.94.
• On Tuesday, February 4th, Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $59.43, for a total value of $76,129.83.

Rhythm Pharmaceuticals Stock Performance

RYTM stock opened at $56.07 on Friday. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The firm has a market cap of $3.45 billion, a PE ratio of -12.95 and a beta of 2.14. The firm’s 50 day moving average price is $57.12 and its 200-day moving average price is $53.97.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RYTM. Creative Planning acquired a new stake in shares of Rhythm Pharmaceuticals during the 3rd quarter worth about $450,000. Hennion & Walsh Asset Management Inc. boosted its stake in Rhythm Pharmaceuticals by 4.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 100,961 shares of the company’s stock worth $5,289,000 after buying an additional 4,583 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Rhythm Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after acquiring an additional 391 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Rhythm Pharmaceuticals by 64.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,758 shares of the company’s stock valued at $616,000 after acquiring an additional 4,595 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Rhythm Pharmaceuticals by 19.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 41,368 shares of the company’s stock worth $2,167,000 after acquiring an additional 6,741 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RYTM shares. TD Cowen upped their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. Needham & Company LLC reissued a “buy” rating and issued a $64.00 target price on shares of Rhythm Pharmaceuticals in a research note on Wednesday. Jefferies Financial Group assumed coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price target for the company. Finally, The Goldman Sachs Group increased their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $68.09.

About Rhythm Pharmaceuticals

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.