Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Joseph Shulman Sells 1,228 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 1,228 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $70,266.16. Following the transaction, the insider now owns 8,509 shares of the company’s stock, valued at $486,884.98. This trade represents a 12.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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 transaction 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 transaction of $76,129.83.

Rhythm Pharmaceuticals Stock Performance

NASDAQ:RYTM opened at $56.07 on Friday. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The stock has a market cap of $3.45 billion, a P/E ratio of -12.95 and a beta of 2.14. The stock has a 50-day simple moving average of $57.12 and a 200-day simple moving average of $53.97.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Loomis Sayles & Co. L P acquired a new stake in Rhythm Pharmaceuticals during the third quarter worth approximately $33,353,000. Janus Henderson Group PLC boosted its holdings in shares of Rhythm Pharmaceuticals by 103.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock valued at $68,309,000 after buying an additional 621,432 shares in the last quarter. Marshall Wace LLP grew its position in shares of Rhythm Pharmaceuticals by 70.4% in the 4th quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock valued at $38,783,000 after buying an additional 286,188 shares during the last quarter. Norges Bank acquired a new stake in Rhythm Pharmaceuticals during the 4th quarter worth $11,512,000. Finally, JPMorgan Chase & Co. lifted its position in Rhythm Pharmaceuticals by 224.3% in the fourth quarter. JPMorgan Chase & Co. now owns 264,585 shares of the company’s stock valued at $14,811,000 after acquiring an additional 182,993 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RYTM shares. The Goldman Sachs Group increased their target price on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Oppenheimer began coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an “outperform” rating and a $76.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Needham & Company LLC reissued a “buy” rating and set a $64.00 target price on shares of Rhythm Pharmaceuticals in a research note on Wednesday. Finally, TD Cowen increased their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus 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.