Rhythm Pharmaceuticals (NASDAQ:RYTM) Insider Joseph Shulman Sells 14,437 Shares

Key Points

• Joseph Shulman, an insider at Rhythm Pharmaceuticals, sold 14,437 shares of the company at an average price of $112.03, totaling approximately $1.62 million, resulting in a 62.92% decrease in his ownership.
• Following the sale, Shulman retains 8,509 shares valued at about $953,263.27, highlighting a significant shift in his stake in the company.
• Rhythm Pharmaceuticals' stock has a market cap of $7.46 billion, with a twelve-month high of $113.91 and a recent trading price of $112.39 after a 1.9% increase.

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) insider Joseph Shulman sold 14,437 shares of Rhythm Pharmaceuticals stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $112.03, for a total transaction of $1,617,377.11. Following the transaction, the insider directly owned 8,509 shares of the company's stock, valued at approximately $953,263.27. This trade represents a 62.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Joseph Shulman also recently made the following trade(s):

• On Thursday, August 21st, Joseph Shulman sold 4,188 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $100.07, for a total transaction of $419,093.16.
• On Monday, August 11th, Joseph Shulman sold 3,984 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $90.08, for a total transaction of $358,878.72.

Rhythm Pharmaceuticals Stock Up 1.9%

Shares of RYTM traded up $2.11 during midday trading on Monday, reaching $112.39. 465,339 shares of the stock were exchanged, compared to its average volume of 653,401. Rhythm Pharmaceuticals, Inc. has a twelve month low of $45.90 and a twelve month high of $113.91. The company has a market cap of $7.46 billion, a P/E ratio of -37.34 and a beta of 2.12. The stock's 50 day simple moving average is $100.24 and its 200 day simple moving average is $79.65.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.75) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.09). Rhythm Pharmaceuticals had a negative return on equity of 1,831.43% and a negative net margin of 117.13%.The firm had revenue of $48.50 million for the quarter, compared to analyst estimates of $43.72 million. During the same period in the prior year, the business posted ($0.55) EPS. The firm's quarterly revenue was up 66.8% compared to the same quarter last year. As a group, analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RYTM has been the subject of a number of research reports. Citigroup reissued an "outperform" rating on shares of Rhythm Pharmaceuticals in a report on Thursday, September 25th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, October 8th. The Goldman Sachs Group dropped their price target on Rhythm Pharmaceuticals from $157.00 to $139.00 and set a "buy" rating for the company in a research note on Friday. Leerink Partnrs raised Rhythm Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 7th. Finally, HC Wainwright boosted their price target on Rhythm Pharmaceuticals from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $107.21.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. raised its stake in Rhythm Pharmaceuticals by 5.9% during the second quarter. Federated Hermes Inc. now owns 1,686,494 shares of the company's stock worth $106,570,000 after acquiring an additional 94,623 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Rhythm Pharmaceuticals by 21.5% during the second quarter. Westfield Capital Management Co. LP now owns 1,629,468 shares of the company's stock worth $102,966,000 after acquiring an additional 288,376 shares in the last quarter. Driehaus Capital Management LLC raised its stake 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. Geode Capital Management LLC raised its stake in Rhythm Pharmaceuticals by 1.9% during the second quarter. Geode Capital Management LLC now owns 1,311,253 shares of the company's stock worth $82,868,000 after acquiring an additional 24,085 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake 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.

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.

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