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

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 794 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 6 shares of the company’s stock, valued at approximately $345.06. This trade represents a 99.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 Stock Down 0.1 %

Shares of RYTM stock opened at $57.56 on Friday. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The company has a market capitalization of $3.54 billion, a P/E ratio of -13.29 and a beta of 2.14. The firm has a 50-day moving average price of $57.11 and a 200 day moving average price of $53.51.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in RYTM. Exchange Traded Concepts LLC lifted its holdings in Rhythm Pharmaceuticals by 26.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 15,057 shares of the company’s stock valued at $789,000 after purchasing an additional 3,137 shares during the last quarter. ORG Wealth Partners LLC bought a new position in Rhythm Pharmaceuticals during the 3rd quarter valued at about $63,000. Creative Planning bought a new position in Rhythm Pharmaceuticals during the 3rd quarter valued at about $450,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Rhythm Pharmaceuticals by 4.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 100,961 shares of the company’s stock valued at $5,289,000 after purchasing an additional 4,583 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Rhythm Pharmaceuticals by 21.5% in 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.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Oppenheimer assumed coverage on shares of Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $69.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. 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 for the company. The Goldman Sachs Group raised their price objective 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. Finally, Needham & Company LLC raised their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and an average 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.