Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells $45,662.94 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 794 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $57.51, for a total transaction of $45,662.94. Following the sale, the insider now directly owns 6 shares of the company’s stock, valued at $345.06. This represents a 99.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• 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 transaction of $76,129.83.

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM traded down $0.89 on Tuesday, hitting $57.58. The stock had a trading volume of 289,541 shares, compared to its average volume of 495,983. The business’s fifty day moving average price is $57.22 and its 200 day moving average price is $53.42. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of -13.30 and a beta of 2.14.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of RYTM. Loomis Sayles & Co. L P purchased a new position in Rhythm Pharmaceuticals in the third quarter worth $33,353,000. Alkeon Capital Management LLC grew its holdings in Rhythm Pharmaceuticals by 16.8% in the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock worth $61,176,000 after purchasing an additional 167,700 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Rhythm Pharmaceuticals by 14.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock worth $58,208,000 after purchasing an additional 143,800 shares during the last quarter. Barclays PLC grew its holdings in Rhythm Pharmaceuticals by 79.6% in the third quarter. Barclays PLC now owns 106,397 shares of the company’s stock worth $5,574,000 after purchasing an additional 47,166 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. lifted its stake in shares of Rhythm Pharmaceuticals by 1.9% during the third quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock worth $126,624,000 after buying an additional 45,648 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RYTM. Bank of America lifted their price target on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Needham & Company LLC lifted their price target on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. JMP Securities reissued a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Finally, Guggenheim started coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They set a “buy” rating and a $70.00 price objective on the stock. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Rhythm Pharmaceuticals currently has a consensus 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.