Rhythm Pharmaceuticals (NASDAQ:RYTM) Insider Sells $419,093.16 in Stock

Key Points

• Joseph Shulman, an insider at Rhythm Pharmaceuticals, sold $419,093.16 worth of shares, resulting in a 32.98% decrease in his ownership stake.
• The company reported a loss of ($0.75) EPS for the latest quarter, missing analyst expectations, although revenue increased by 66.8% year-over-year.
• Analysts have generally upgraded their ratings on Rhythm Pharmaceuticals, with Wells Fargo raising its price target to $129.00 and most ratings being positive or buy.

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) insider Joseph Shulman sold 4,188 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $100.07, for a total transaction of $419,093.16. Following the transaction, the insider directly owned 8,509 shares of the company's stock, valued at $851,495.63. This represents a 32.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, August 11th, Joseph Shulman sold 3,984 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $90.08, for a total transaction of $358,878.72.
• On Wednesday, July 9th, Joseph Shulman sold 7,969 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $77.78, for a total value of $619,828.82.

Rhythm Pharmaceuticals Trading Down 3.9%

RYTM traded down $4.07 on Monday, hitting $99.20. The company had a trading volume of 625,537 shares, compared to its average volume of 583,114. The firm has a market cap of $6.59 billion, a P/E ratio of -32.96 and a beta of 2.38. Rhythm Pharmaceuticals, Inc. has a 1 year low of $45.00 and a 1 year high of $104.87. The company's fifty day moving average price is $82.68 and its 200 day moving average price is $66.80.

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

Analyst Ratings Changes

A number of analysts have issued reports on RYTM shares. Wells Fargo & Company raised their price target on Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Bank of America raised their target price on Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Guggenheim raised their target price on Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Oppenheimer raised their target price on Rhythm Pharmaceuticals from $76.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Finally, Wall Street Zen upgraded Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $101.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Westfield Capital Management Co. LP purchased a new position in shares of Rhythm Pharmaceuticals during the first quarter valued at $71,038,000. JPMorgan Chase & Co. lifted its position in shares of Rhythm Pharmaceuticals by 445.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 783,559 shares of the company's stock worth $49,513,000 after purchasing an additional 639,919 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of 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. Price T Rowe Associates Inc. MD lifted its position in shares of 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. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Rhythm Pharmaceuticals in the 2nd quarter valued at approximately $21,548,000.

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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