Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells 4,688 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) insider Pamela J. Cramer sold 4,688 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $65.00, for a total transaction of $304,720.00. Following the completion of the transaction, the insider now owns 13,500 shares of the company's stock, valued at approximately $877,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock traded up $3.43 during trading hours on Friday, reaching $67.33. The company's stock had a trading volume of 1,113,014 shares, compared to its average volume of 543,984. The firm has a 50 day moving average price of $51.01 and a 200-day moving average price of $45.83. The stock has a market cap of $4.14 billion, a P/E ratio of -15.55 and a beta of 2.09. Rhythm Pharmaceuticals, Inc. has a one year low of $26.55 and a one year high of $67.61.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.80) by $0.07. The business had revenue of $33.20 million for the quarter, compared to the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 286.94% and a negative net margin of 230.07%. The company's quarterly revenue was up 47.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.76) earnings per share. As a group, sell-side analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Several research firms recently issued reports on RYTM. Bank of America increased their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Canaccord Genuity Group lifted their price objective on shares of Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday. TD Cowen boosted their target price on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday. Needham & Company LLC raised their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Guggenheim started coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a "buy" rating and a $70.00 price target on the stock. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $62.30.

Rhythm Pharmaceuticals Company Profile

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.