Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German Sells 3,817 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) CAO Christopher Paul German sold 3,817 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $80.75, for a total value of $308,222.75. Following the transaction, the chief accounting officer owned 922 shares in the company, valued at $74,451.50. This trade represents a 80.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 Stock Down 2.6%

Shares of RYTM traded down $2.34 during trading hours on Friday, hitting $86.70. 1,105,173 shares of the company were exchanged, compared to its average volume of 588,672. The company has a market cap of $5.52 billion, a price-to-earnings ratio of -30.85 and a beta of 2.26. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $40.61 and a fifty-two week high of $94.80. The firm's fifty day moving average is $64.34 and its 200 day moving average is $59.27.

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 the consensus estimate of ($0.69) by ($0.12). The company had revenue of $37.72 million for the quarter, compared to analyst estimates of $40.43 million. Rhythm Pharmaceuticals had a negative return on equity of 739.62% and a negative net margin of 123.26%. The business's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period last year, the company posted ($2.35) earnings per share. Analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Institutional Trading of Rhythm Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Rhythm Pharmaceuticals during the 1st quarter worth $34,000. State of Wyoming bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth $61,000. GF Fund Management CO. LTD. bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth $72,000. CWM LLC lifted its position in shares of Rhythm Pharmaceuticals by 92.3% during the 1st quarter. CWM LLC now owns 2,584 shares of the company's stock worth $137,000 after buying an additional 1,240 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new stake in shares of Rhythm Pharmaceuticals during the 1st quarter worth $166,000.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Canaccord Genuity Group boosted their target price on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. Needham & Company LLC restated a "buy" rating and issued a $95.00 target price (up previously from $72.00) on shares of Rhythm Pharmaceuticals in a research note on Wednesday. Guggenheim reiterated a "buy" rating on shares of Rhythm Pharmaceuticals in a research note on Thursday. Wells Fargo & Company upped their price objective on Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Leerink Partners initiated coverage on Rhythm Pharmaceuticals in a research note on Monday, July 7th. They set an "outperform" rating and a $88.00 price objective on the stock. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $91.00.

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.