Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Pamela J. Cramer Sells 7,031 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) insider Pamela J. Cramer sold 7,031 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $68.05, for a total value of $478,459.55. Following the transaction, the insider now directly owns 19,209 shares of the company's stock, valued at approximately $1,307,172.45. The trade was a 26.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Rhythm Pharmaceuticals Stock Down 0.2%

NASDAQ:RYTM traded down $0.12 during mid-day trading on Friday, hitting $62.90. 541,189 shares of the company traded hands, compared to its average volume of 557,672. The stock's fifty day moving average price is $62.07 and its 200-day moving average price is $57.97. Rhythm Pharmaceuticals, Inc. has a one year low of $39.46 and a one year high of $69.89. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of -14.53 and a beta of 2.30.

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 230.07% and a negative return on equity of 367.36%. The company had revenue of $37.72 million for the quarter, compared to analysts' expectations of $40.43 million. During the same quarter last year, the company earned ($2.35) earnings per share. 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 EPS for the current year.

Institutional Trading of Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP boosted its position in Rhythm Pharmaceuticals by 67.2% during the 4th quarter. First Trust Advisors LP now owns 118,337 shares of the company's stock valued at $6,625,000 after acquiring an additional 47,575 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter valued at $521,000. SBI Securities Co. Ltd. purchased a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter valued at $37,000. BNP Paribas Financial Markets lifted its holdings in shares of Rhythm Pharmaceuticals by 491.0% during the 4th quarter. BNP Paribas Financial Markets now owns 85,249 shares of the company's stock valued at $4,772,000 after purchasing an additional 70,824 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Rhythm Pharmaceuticals by 18.5% during the 4th quarter. Teacher Retirement System of Texas now owns 13,586 shares of the company's stock valued at $761,000 after purchasing an additional 2,117 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have weighed in on RYTM shares. Stifel Nicolaus raised their target price on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Needham & Company LLC lifted their price objective on Rhythm Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley reissued an "overweight" rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. Bank of America raised Rhythm Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $63.00 price objective on the stock in a report on Monday, April 7th. Finally, HC Wainwright reiterated 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. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $76.62.

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.