Alastair Garfield Sells 1,319 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) insider Alastair Garfield sold 1,319 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $64.81, for a total transaction of $85,484.39. Following the transaction, the insider directly owned 3,126 shares of the company's stock, valued at approximately $202,596.06. This trade represents a 29.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Rhythm Pharmaceuticals Trading Down 1.7%

RYTM traded down $1.15 during trading on Friday, hitting $65.78. 628,374 shares of the company traded hands, compared to its average volume of 558,111. The company has a market cap of $4.18 billion, a PE ratio of -23.41 and a beta of 2.26. The stock's 50-day simple moving average is $62.86 and its two-hundred day simple moving average is $58.48. Rhythm Pharmaceuticals, Inc. has a 1 year low of $40.61 and a 1 year high of $69.89.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings data 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 the consensus estimate 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 was up 25.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.35) EPS. Equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RYTM. Canaccord Genuity Group upped their target price on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. JMP Securities reaffirmed a "market outperform" rating and issued a $84.00 price target on shares of Rhythm Pharmaceuticals in a research note on Thursday, June 26th. Stifel Nicolaus raised 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. Needham & Company LLC boosted their target price on shares of Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company upped their target price on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $77.31.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RYTM. First Trust Advisors LP boosted its stake in shares of Rhythm Pharmaceuticals by 67.2% during the fourth quarter. First Trust Advisors LP now owns 118,337 shares of the company's stock valued at $6,625,000 after purchasing an additional 47,575 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at about $521,000. SBI Securities Co. Ltd. bought a new position in Rhythm Pharmaceuticals in the 4th quarter worth about $37,000. BNP Paribas Financial Markets increased its position in shares of Rhythm Pharmaceuticals by 491.0% during the fourth quarter. BNP Paribas Financial Markets now owns 85,249 shares of the company's stock worth $4,772,000 after acquiring an additional 70,824 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Rhythm Pharmaceuticals during the first quarter valued at approximately $1,042,000.

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.