Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Sells 2,069 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) CAO Christopher Paul German sold 2,069 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $67.19, for a total transaction of $139,016.11. Following the sale, the chief accounting officer now directly owns 1,889 shares of the company's stock, valued at $126,921.91. The trade was a 52.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, March 21st, Christopher Paul German sold 344 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $54.23, for a total transaction of $18,655.12.

Rhythm Pharmaceuticals Stock Performance

NASDAQ RYTM traded down $0.12 during trading hours on Friday, reaching $62.90. The company's stock had a trading volume of 541,189 shares, compared to its average volume of 556,906. The stock has a market cap of $4.00 billion, a PE ratio of -14.53 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $39.46 and a fifty-two week high of $69.89. The company's 50-day moving average is $62.07 and its two-hundred day moving average is $57.94.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.12). The firm had revenue of $37.72 million during the quarter, compared to analysts' expectations of $40.43 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Rhythm Pharmaceuticals's revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter last year, the company posted ($2.35) earnings per share. Equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on RYTM shares. Morgan Stanley reaffirmed an "overweight" rating and set a $72.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Bank of America upgraded shares of Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price target for the company in a research report on Monday, April 7th. Stifel Nicolaus lifted their price objective on shares of Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, May 29th. HC Wainwright restated a "buy" rating and set a $80.00 price objective (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Finally, Needham & Company LLC boosted their price objective on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $76.62.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in shares of Rhythm Pharmaceuticals by 3.6% during the 1st quarter. Rhumbline Advisers now owns 85,719 shares of the company's stock worth $4,541,000 after acquiring an additional 2,988 shares during the period. Strs Ohio purchased a new stake in shares of Rhythm Pharmaceuticals during the first quarter valued at approximately $980,000. Siren L.L.C. acquired a new position in shares of Rhythm Pharmaceuticals during the first quarter worth $14,701,000. Intech Investment Management LLC grew its holdings in Rhythm Pharmaceuticals by 20.7% during the 1st quarter. Intech Investment Management LLC now owns 33,893 shares of the company's stock valued at $1,795,000 after purchasing an additional 5,801 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new position in Rhythm Pharmaceuticals in the 1st quarter valued at about $166,000.

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.