Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Sells 344 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German sold 344 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $54.23, for a total value of $18,655.12. Following the completion of the sale, the chief accounting officer now owns 2,889 shares of the company’s stock, valued at approximately $156,670.47. This represents a 10.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Christopher Paul German also recently made the following trade(s):

• On Wednesday, February 19th, Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $57.22, for a total value of $36,334.70.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $53.72 on Tuesday. The firm has a market cap of $3.40 billion, a PE ratio of -12.41 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The stock has a fifty day moving average price of $55.28 and a 200-day moving average price of $54.99.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The company had revenue of $41.83 million during the quarter, compared to the consensus estimate of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. As a group, equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RYTM has been the topic of a number of research reports. Stifel Nicolaus started coverage on Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They set a “buy” rating and a $78.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price objective on the stock. Oppenheimer began coverage on shares of Rhythm Pharmaceuticals in a report on Friday, December 20th. They set an “outperform” rating and a $76.00 price objective for the company. Needham & Company LLC upped their target price on shares of Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $72.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.46.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Castleark Management LLC increased its position in Rhythm Pharmaceuticals by 1.3% in the third quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock worth $1,009,000 after buying an additional 250 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Rhythm Pharmaceuticals by 2.3% in the 4th quarter. Two Sigma Advisers LP now owns 13,100 shares of the company’s stock worth $733,000 after acquiring an additional 300 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in Rhythm Pharmaceuticals by 740.7% in 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 during the period. Raleigh Capital Management Inc. bought a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at about $28,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Rhythm Pharmaceuticals by 2.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,156 shares of the company’s stock valued at $1,857,000 after purchasing an additional 654 shares during the last quarter.

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.