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 that occurred on Wednesday, July 9th. The stock was sold at an average price of $77.13, for a total transaction of $1,201,068.36. Following the transaction, the insider directly owned 19,209 shares in the company, valued at $1,481,590.17. The trade was a 44.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Rhythm Pharmaceuticals Stock Down 2.6%

Shares of RYTM stock traded down $2.34 during trading on Friday, reaching $86.70. The company's stock had a trading volume of 1,105,173 shares, compared to its average volume of 588,517. The business has a fifty day moving average price of $64.34 and a 200-day moving average price of $59.29. 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 one year low of $40.61 and a one year high of $94.80.

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

Institutional Trading of Rhythm Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. raised 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 worth $84,321,000 after acquiring an additional 42,236 shares in the last quarter. Driehaus Capital Management LLC raised its position in Rhythm Pharmaceuticals by 12.9% during the first quarter. Driehaus Capital Management LLC now owns 1,458,022 shares of the company's stock worth $77,231,000 after acquiring an additional 167,047 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in Rhythm Pharmaceuticals during the first quarter worth $71,038,000. Janus Henderson Group PLC raised its position in Rhythm Pharmaceuticals by 103.9% during the fourth 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 raised its position in Rhythm Pharmaceuticals by 75.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,199,053 shares of the company's stock worth $63,515,000 after acquiring an additional 513,901 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RYTM. Leerink Partnrs raised shares of Rhythm Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 7th. Stifel Nicolaus lifted their price target on shares of Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Wells Fargo & Company lifted their price target on shares of Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the company an "overweight" rating in a research note on Thursday. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price target (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Finally, Leerink Partners initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, July 7th. They issued an "outperform" rating and a $88.00 price target on the stock. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus 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.