Joseph Shulman Sells 794 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 794 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $57.51, for a total transaction of $45,662.94. Following the sale, the insider now owns 6 shares of the company’s stock, valued at $345.06. The trade was a 99.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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 Stock Performance

Shares of RYTM stock traded down $0.89 on Tuesday, reaching $57.58. 289,541 shares of the company were exchanged, compared to its average volume of 495,983. The company has a market cap of $3.54 billion, a price-to-earnings ratio of -13.30 and a beta of 2.14. The business has a 50-day moving average price of $57.22 and a 200 day moving average price of $53.42. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58.

Institutional Trading of Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of RYTM. Castleark Management LLC grew its stake in Rhythm Pharmaceuticals by 1.3% during the 3rd quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock valued at $1,009,000 after acquiring an additional 250 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Rhythm Pharmaceuticals by 21.5% during the 3rd 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 in the last quarter. SRS Capital Advisors Inc. grew its stake in Rhythm Pharmaceuticals by 740.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after acquiring an additional 400 shares in the last quarter. Raleigh Capital Management Inc. purchased a new stake in Rhythm Pharmaceuticals during the 4th quarter valued at about $28,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Rhythm Pharmaceuticals during the 4th quarter valued at about $37,000.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RYTM shares. JMP Securities restated a “market outperform” rating and set a $75.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Needham & Company LLC boosted their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Canaccord Genuity Group restated a “buy” rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. HC Wainwright restated a “buy” rating and set a $69.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Finally, Bank of America boosted their target price on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.09.

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.