Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Joseph Shulman Sells 7,969 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) insider Joseph Shulman sold 7,969 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $77.78, for a total value of $619,828.82. Following the completion of the sale, the insider directly owned 8,509 shares of the company's stock, valued at $661,830.02. The trade was a 48.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock 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. Rhythm Pharmaceuticals, Inc. has a 1 year low of $40.61 and a 1 year high of $94.80. The firm has a fifty day moving average price of $64.34 and a 200-day moving average price of $59.31. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of -31.73 and a beta of 2.26.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.81) 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 analysts' expectations of $40.43 million. During the same quarter last year, the firm posted ($2.35) earnings per share. Rhythm Pharmaceuticals's quarterly revenue was up 25.9% on a year-over-year basis. As a group, analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Rhythm Pharmaceuticals by 1.0% during the 1st quarter. Victory Capital Management Inc. now owns 17,326 shares of the company's stock worth $918,000 after buying an additional 174 shares in the last quarter. Xponance Inc. increased its stake in Rhythm Pharmaceuticals by 4.7% during the 1st quarter. Xponance Inc. now owns 4,365 shares of the company's stock worth $231,000 after buying an additional 197 shares in the last quarter. Principal Financial Group Inc. increased its stake in Rhythm Pharmaceuticals by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 37,156 shares of the company's stock worth $1,968,000 after buying an additional 272 shares in the last quarter. GF Fund Management CO. LTD. increased its stake in Rhythm Pharmaceuticals by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,573 shares of the company's stock worth $83,000 after buying an additional 283 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in Rhythm Pharmaceuticals by 2.3% during the 4th quarter. Two Sigma Advisers LP now owns 13,100 shares of the company's stock worth $733,000 after buying an additional 300 shares in the last quarter.

Analysts Set New Price Targets

RYTM has been the topic of several research analyst reports. Bank of America boosted their price target on Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday. Canaccord Genuity Group boosted their price target on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. Morgan Stanley set a $95.00 price target on Rhythm Pharmaceuticals and gave the company an "overweight" rating in a research note on Wednesday, July 9th. HC Wainwright reiterated a "buy" rating and set a $80.00 price objective (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, April 8th. Finally, Guggenheim reiterated a "buy" rating on shares of Rhythm Pharmaceuticals in a research note on Thursday. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Rhythm Pharmaceuticals has a consensus rating of "Buy" and a consensus target price 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.