Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Sells 66,861 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Jennifer Kayden Lee sold 66,861 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $66.33, for a total value of $4,434,890.13. Following the completion of the transaction, the executive vice president now owns 972 shares in the company, valued at approximately $64,472.76. This trade represents a 0.00 % 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

Rhythm Pharmaceuticals stock opened at $60.07 on Thursday. The company has a market cap of $3.69 billion, a P/E ratio of -13.87 and a beta of 2.09. Rhythm Pharmaceuticals, Inc. has a one year low of $29.38 and a one year high of $68.58. The business has a fifty day moving average of $52.00 and a two-hundred day moving average of $46.34.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm had revenue of $33.20 million for the quarter, compared to the consensus estimate of $32.52 million. During the same quarter in the previous year, the firm earned ($0.76) earnings per share. The firm’s revenue was up 47.6% on a year-over-year basis. Sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.41 EPS for the current year.

Institutional Trading of Rhythm Pharmaceuticals

A number of institutional investors have recently bought and sold shares of RYTM. CWM LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after purchasing an additional 253 shares in the last quarter. ORG Partners LLC purchased a new stake in Rhythm Pharmaceuticals in the 2nd quarter valued at approximately $51,000. ORG Wealth Partners LLC acquired a new stake in Rhythm Pharmaceuticals during the 3rd quarter valued at $63,000. Quest Partners LLC increased its position in Rhythm Pharmaceuticals by 513.3% during the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after purchasing an additional 1,391 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after purchasing an additional 391 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RYTM shares. Guggenheim started coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They set a “buy” rating and a $70.00 price target for the company. JMP Securities initiated coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price objective on the stock. Bank of America raised their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Canaccord Genuity Group increased their price target on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, HC Wainwright upped their target price on shares of Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.30.

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.