Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells $45,662.94 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 794 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $57.51, for a total value of $45,662.94. Following the sale, the insider now owns 6 shares of the company’s stock, valued at approximately $345.06. The trade was a 99.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, February 4th, Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $59.43, for a total value of $76,129.83.

Rhythm Pharmaceuticals Trading Down 0.1 %

RYTM stock opened at $57.56 on Friday. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The firm has a market cap of $3.54 billion, a PE ratio of -13.29 and a beta of 2.14. The business’s 50-day moving average price is $57.11 and its two-hundred day moving average price is $53.51.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Guggenheim began coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 21st. They issued a “buy” rating and a $70.00 target price on the stock. Oppenheimer began coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. The Goldman Sachs Group raised their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $68.09.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Hedge funds have recently modified their holdings of the business. FMR LLC increased its stake in Rhythm Pharmaceuticals by 79.7% during the 3rd quarter. FMR LLC now owns 50,295 shares of the company’s stock worth $2,635,000 after purchasing an additional 22,306 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Rhythm Pharmaceuticals by 241.9% in the third quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock valued at $1,707,000 after buying an additional 23,054 shares during the period. BNP Paribas Financial Markets increased its position in shares of Rhythm Pharmaceuticals by 307.1% during the third quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company’s stock worth $756,000 after acquiring an additional 10,882 shares in the last quarter. Creative Planning acquired a new stake in shares of Rhythm Pharmaceuticals during the third quarter worth $450,000. Finally, Intech Investment Management LLC bought a new stake in Rhythm Pharmaceuticals in the 3rd quarter valued at $649,000.

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.