Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Sells 3,817 Shares of Stock

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 stock was sold at an average price of $80.75, for a total value of $308,222.75. Following the sale, the chief accounting officer directly owned 922 shares in the company, valued at approximately $74,451.50. The trade was a 80.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 Up 2.8%

RYTM traded up $2.45 on Monday, hitting $89.15. The company's stock had a trading volume of 736,625 shares, compared to its average volume of 589,109. The company's 50 day simple moving average is $64.34 and its 200-day simple moving average is $59.31. The firm has a market cap of $5.67 billion, a P/E ratio of -31.73 and a beta of 2.26. Rhythm Pharmaceuticals, Inc. has a 12 month low of $40.61 and a 12 month high of $94.80.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.81) earnings per share for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative net margin of 123.26% and a negative return on equity of 739.62%. The company had revenue of $37.72 million for the quarter, compared to the consensus estimate of $40.43 million. During the same period in the previous year, the firm posted ($2.35) EPS. The company's revenue for the quarter was up 25.9% on a year-over-year basis. Equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on RYTM. Stifel Nicolaus boosted their target price on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Morgan Stanley set a $95.00 price target on shares of Rhythm Pharmaceuticals and gave the company an "overweight" rating in a report on Wednesday, July 9th. Oppenheimer upped their price objective on shares of Rhythm Pharmaceuticals from $76.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday. HC Wainwright reissued a "buy" rating and set a $80.00 target price (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $95.00 price objective (up previously from $72.00) on shares of Rhythm Pharmaceuticals in a research report on Wednesday, July 9th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $91.00.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Federated Hermes Inc. lifted its position in Rhythm Pharmaceuticals by 2.7% during the first quarter. Federated Hermes Inc. now owns 1,591,871 shares of the company's stock valued at $84,321,000 after purchasing an additional 42,236 shares during the last quarter. Driehaus Capital Management LLC raised its position in Rhythm Pharmaceuticals by 12.9% during the 1st quarter. Driehaus Capital Management LLC now owns 1,458,022 shares of the company's stock worth $77,231,000 after buying an additional 167,047 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Rhythm Pharmaceuticals during the 1st quarter valued at approximately $71,038,000. Janus Henderson Group PLC increased its holdings 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 worth $68,309,000 after acquiring an additional 621,432 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Rhythm Pharmaceuticals by 75.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,199,053 shares of the company's stock worth $63,515,000 after purchasing an additional 513,901 shares during 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.