Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Sells $15,367.68 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) CAO Christopher Paul German sold 368 shares of the business's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $41.76, for a total transaction of $15,367.68. Following the completion of the sale, the chief accounting officer now owns 795 shares in the company, valued at $33,199.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Rhythm Pharmaceuticals Stock Performance

RYTM traded up $0.84 on Wednesday, reaching $40.89. 447,109 shares of the company's stock were exchanged, compared to its average volume of 659,485. The company's 50 day moving average is $44.15 and its 200-day moving average is $36.89. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -12.78 and a beta of 1.90. Rhythm Pharmaceuticals, Inc. has a twelve month low of $15.50 and a twelve month high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.70) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.70). The firm had revenue of $24.23 million during the quarter, compared to analysts' expectations of $25.38 million. Rhythm Pharmaceuticals had a negative return on equity of 96.02% and a negative net margin of 238.50%. Rhythm Pharmaceuticals's quarterly revenue was up 175.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.75) EPS. Sell-side analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.03 EPS for the current year.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 65.7% during the 2nd quarter. BlackRock Inc. now owns 6,265,005 shares of the company's stock valued at $103,310,000 after buying an additional 2,484,406 shares during the last quarter. RA Capital Management L.P. lifted its stake in Rhythm Pharmaceuticals by 2.9% during the second quarter. RA Capital Management L.P. now owns 5,676,067 shares of the company's stock worth $93,598,000 after purchasing an additional 160,000 shares during the last quarter. Federated Hermes Inc. increased its position in Rhythm Pharmaceuticals by 80.7% in the first quarter. Federated Hermes Inc. now owns 5,065,113 shares of the company's stock worth $58,350,000 after buying an additional 2,261,778 shares during the period. Goldman Sachs Group Inc. increased its position in Rhythm Pharmaceuticals by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,339,750 shares of the company's stock worth $38,474,000 after buying an additional 243,202 shares during the period. Finally, State Street Corp increased its position in Rhythm Pharmaceuticals by 25.1% in the second quarter. State Street Corp now owns 3,267,425 shares of the company's stock worth $53,880,000 after buying an additional 655,237 shares during the period.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, January 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Thursday, February 22nd. Morgan Stanley raised shares of Rhythm Pharmaceuticals from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $29.00 to $55.00 in a research note on Tuesday, December 19th. Finally, Wells Fargo & Company upped their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday, December 19th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $47.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.