Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells 20,760 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Pamela J. Cramer sold 20,760 shares of the company’s stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $60.14, for a total value of $1,248,506.40. Following the completion of the transaction, the insider now owns 19,209 shares of the company’s stock, valued at $1,155,229.26. This trade represents a 51.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM opened at $57.83 on Friday. The company has a market cap of $3.66 billion, a price-to-earnings ratio of -13.36 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The firm has a fifty day moving average price of $54.58 and a two-hundred day moving average price of $55.29.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The business had revenue of $41.83 million for the quarter, compared to analysts’ expectations of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. Equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RYTM. Needham & Company LLC restated a “buy” rating and set a $66.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday. Morgan Stanley reissued an “overweight” rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. Oppenheimer started coverage on Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective on the stock. Jefferies Financial Group started coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price objective on the stock. Finally, Bank of America raised Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Monday. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Rhythm Pharmaceuticals has an average rating of “Buy” and an average price target of $74.92.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RYTM. Rhumbline Advisers raised its stake in Rhythm Pharmaceuticals by 3.6% in the first quarter. Rhumbline Advisers now owns 85,719 shares of the company’s stock valued at $4,541,000 after purchasing an additional 2,988 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Rhythm Pharmaceuticals by 7,305.5% in the 1st quarter. GAMMA Investing LLC now owns 14,885 shares of the company’s stock worth $788,000 after buying an additional 14,684 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter valued at $4,259,000. GF Fund Management CO. LTD. bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth $72,000. Finally, Voloridge Investment Management LLC grew its position in Rhythm Pharmaceuticals by 7.7% in the fourth quarter. Voloridge Investment Management LLC now owns 380,537 shares of the company’s stock worth $21,302,000 after acquiring an additional 27,214 shares in the last quarter.

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.