Pamela J. Cramer Sells 15,572 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) insider Pamela J. Cramer sold 15,572 shares of Rhythm Pharmaceuticals stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $77.13, for a total value of $1,201,068.36. Following the completion of the transaction, the insider directly owned 19,209 shares of the company's stock, valued at $1,481,590.17. This represents a 44.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM traded up $2.45 during trading hours on Monday, reaching $89.15. The company's stock had a trading volume of 736,625 shares, compared to its average volume of 589,109. The firm has a fifty day simple moving average of $64.34 and a 200-day simple moving average of $59.31. The stock 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 52 week low of $40.61 and a 52 week high of $94.80.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued 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). Rhythm Pharmaceuticals had a negative net margin of 123.26% and a negative return on equity of 739.62%. The business had revenue of $37.72 million during the quarter, compared to the consensus estimate of $40.43 million. During the same quarter last year, the business earned ($2.35) EPS. The firm's quarterly revenue was up 25.9% compared to the same quarter last year. On average, research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Institutional Trading of Rhythm Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. Federated Hermes Inc. grew its stake in shares of Rhythm Pharmaceuticals by 2.7% in the first quarter. Federated Hermes Inc. now owns 1,591,871 shares of the company's stock worth $84,321,000 after purchasing an additional 42,236 shares during the last quarter. Driehaus Capital Management LLC grew its stake in shares of Rhythm Pharmaceuticals by 12.9% in the first quarter. Driehaus Capital Management LLC now owns 1,458,022 shares of the company's stock worth $77,231,000 after purchasing an additional 167,047 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Rhythm Pharmaceuticals in the first quarter worth $71,038,000. Janus Henderson Group PLC raised its holdings in Rhythm Pharmaceuticals by 103.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company's stock worth $68,309,000 after purchasing an additional 621,432 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings 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.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RYTM. Canaccord Genuity Group raised their target price on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Oppenheimer raised their price objective on Rhythm Pharmaceuticals from $76.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday. Morgan Stanley set a $95.00 target price on Rhythm Pharmaceuticals and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Guggenheim reissued a "buy" rating on shares of Rhythm Pharmaceuticals in a report on Thursday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $95.00 target price (up previously from $72.00) on shares of Rhythm Pharmaceuticals in a report on Wednesday, July 9th. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of "Buy" and a consensus price target of $91.00.

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.