Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Sells 344 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German sold 344 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $54.23, for a total transaction of $18,655.12. Following the completion of the sale, the chief accounting officer now owns 2,889 shares of the company’s stock, valued at $156,670.47. This trade represents a 10.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Christopher Paul German also recently made the following trade(s):

• On Wednesday, February 19th, Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $57.22, for a total value of $36,334.70.

Rhythm Pharmaceuticals Trading Up 3.2 %

RYTM stock traded up $1.68 on Monday, hitting $53.72. The company had a trading volume of 502,411 shares, compared to its average volume of 485,940. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of -12.41 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The stock’s 50-day simple moving average is $55.28 and its 200 day simple moving average is $54.99.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). The firm had revenue of $41.83 million during the quarter, compared to the consensus estimate of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RYTM shares. Oppenheimer began coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective for the company. Needham & Company LLC raised their target price on shares of Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Morgan Stanley reiterated an “overweight” rating and issued a $72.00 price target on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $70.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.46.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. Castleark Management LLC grew its holdings in Rhythm Pharmaceuticals by 1.3% during the third quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock valued at $1,009,000 after purchasing an additional 250 shares during the period. Two Sigma Advisers LP grew its stake in shares of Rhythm Pharmaceuticals by 2.3% during the 4th quarter. Two Sigma Advisers LP now owns 13,100 shares of the company’s stock valued at $733,000 after acquiring an additional 300 shares during the period. SRS Capital Advisors Inc. increased its holdings in Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock worth $25,000 after acquiring an additional 400 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in Rhythm Pharmaceuticals during the fourth quarter valued at approximately $28,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Rhythm Pharmaceuticals by 2.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,156 shares of the company’s stock worth $1,857,000 after purchasing an additional 654 shares during the period.

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.