Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German Sells 1,500 Shares

Key Points

• Rhythm Pharmaceuticals' CAO, Christopher Paul German, sold 1,500 shares at an average price of $95.00, resulting in a total transaction of $142,500 and a significant 61.93% decrease in his stock ownership.
• The company recently announced quarterly earnings, reporting a loss of ($0.75) per share, below analysts' estimates, despite revenue increasing by 66.8% year-over-year to $48.5 million.
• Equities research analysts have set new price targets for the stock, with a consensus rating of "buy" and an average target price of $101.57.

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) CAO Christopher Paul German sold 1,500 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $95.00, for a total value of $142,500.00. Following the sale, the chief accounting officer directly owned 922 shares of the company's stock, valued at $87,590. This trade represents a 61.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, July 9th, Christopher Paul German sold 3,817 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $80.75, for a total value of $308,222.75.
• On Tuesday, June 10th, Christopher Paul German sold 2,069 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $67.19, for a total value of $139,016.11.

Rhythm Pharmaceuticals Trading Up 1.2%

NASDAQ:RYTM traded up $1.13 during trading hours on Friday, hitting $97.61. The company had a trading volume of 522,257 shares, compared to its average volume of 584,828. The company has a 50-day moving average of $78.46 and a 200 day moving average of $65.09. The company has a market cap of $6.48 billion, a P/E ratio of -32.43 and a beta of 2.38. Rhythm Pharmaceuticals, Inc. has a 1 year low of $43.57 and a 1 year high of $99.04.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.09). Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%. The company had revenue of $48.50 million during the quarter, compared to analysts' expectations of $43.72 million. During the same quarter in the previous year, the company earned ($0.55) earnings per share. The firm's quarterly revenue was up 66.8% compared to the same quarter last year. On average, analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several large investors have recently modified their holdings of RYTM. Westfield Capital Management Co. LP acquired a new position in Rhythm Pharmaceuticals during the 1st quarter worth about $71,038,000. JPMorgan Chase & Co. raised its position in Rhythm Pharmaceuticals by 445.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 783,559 shares of the company's stock valued at $49,513,000 after purchasing an additional 639,919 shares in the last quarter. Janus Henderson Group PLC raised its position in 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 purchasing an additional 621,432 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Rhythm Pharmaceuticals by 75.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,199,053 shares of the company's stock valued at $63,515,000 after acquiring an additional 513,901 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Rhythm Pharmaceuticals in the 2nd quarter valued at about $21,548,000.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Guggenheim boosted their price objective on Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Stifel Nicolaus boosted their price objective on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. The Goldman Sachs Group assumed coverage on Rhythm Pharmaceuticals in a research report on Thursday, July 10th. They issued a "buy" rating and a $97.00 price objective for the company. Wells Fargo & Company boosted their price objective on Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Bank of America boosted their price objective on Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $101.57.

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.