Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells 1,228 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) insider Joseph Shulman sold 1,228 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $70,266.16. Following the sale, the insider now directly owns 8,509 shares of the company's stock, valued at approximately $486,884.98. This trade represents a 12.61 % 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 11th, Joseph Shulman sold 794 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $57.51, for a total value of $45,662.94.
• 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 Stock Down 2.9 %

Shares of NASDAQ RYTM traded down $1.67 during mid-day trading on Friday, hitting $56.07. 420,178 shares of the company were exchanged, compared to its average volume of 463,964. The stock has a 50 day simple moving average of $57.10 and a 200-day simple moving average of $53.89. 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 $3.45 billion, a price-to-earnings ratio of -12.95 and a beta of 2.14.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. SRS Capital Advisors Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock valued at $25,000 after purchasing an additional 400 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in Rhythm Pharmaceuticals during the fourth quarter worth about $28,000. SBI Securities Co. Ltd. purchased a new position in Rhythm Pharmaceuticals in the fourth quarter valued at about $37,000. R Squared Ltd acquired a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter valued at approximately $44,000. Finally, State of Wyoming acquired a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter valued at approximately $61,000.

Wall Street Analyst Weigh In

RYTM has been the topic of a number of research reports. HC Wainwright reiterated a "buy" rating and set a $69.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Needham & Company LLC restated a "buy" rating and issued a $64.00 price objective on shares of Rhythm Pharmaceuticals in a report on Wednesday. Canaccord Genuity Group reiterated a "buy" rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. 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 research note on Thursday, December 5th. Finally, TD Cowen upped 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 equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $68.09.

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.