Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells 794 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) insider Joseph Shulman sold 794 shares of the stock in a transaction that occurred 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 directly owns 6 shares of the company's stock, valued at $345.06. The trade was a 99.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

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

Rhythm Pharmaceuticals Trading Down 1.5 %

Shares of RYTM stock traded down $0.87 during mid-day trading on Friday, reaching $56.69. The stock had a trading volume of 327,086 shares, compared to its average volume of 477,675. The company has a market cap of $3.48 billion, a P/E ratio of -13.09 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The business has a 50-day simple moving average of $57.06 and a 200 day simple moving average of $53.59.

Analyst Ratings Changes

RYTM has been the topic of a number of recent analyst reports. Jefferies Financial Group assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a "buy" rating and a $80.00 price target on the stock. Oppenheimer started coverage on Rhythm Pharmaceuticals in a research report on Friday, December 20th. They set an "outperform" rating and a $76.00 target price on the stock. The Goldman Sachs Group raised their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, December 5th. JMP Securities reaffirmed a "market outperform" rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Finally, TD Cowen increased their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $68.09.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. grew its position in shares of Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock valued at $25,000 after purchasing an additional 400 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in Rhythm Pharmaceuticals during the 4th quarter valued at $28,000. SBI Securities Co. Ltd. purchased a new position in Rhythm Pharmaceuticals during the fourth quarter worth $37,000. R Squared Ltd acquired a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth $44,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals in the third quarter valued at $63,000.

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.