Joseph Shulman Sells 1,281 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) insider Joseph Shulman sold 1,281 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $76,129.83. Following the completion of the transaction, the insider now owns 2,657 shares of the company's stock, valued at approximately $157,905.51. This trade represents a 32.53 % decrease in their position. The sale 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 Monday, November 11th, Joseph Shulman sold 13,281 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $66.44, for a total value of $882,389.64.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM stock traded down $0.83 on Friday, reaching $59.18. The stock had a trading volume of 372,997 shares, compared to its average volume of 477,675. The company has a 50 day simple moving average of $57.26 and a 200 day simple moving average of $53.30. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The stock has a market cap of $3.64 billion, a P/E ratio of -13.67 and a beta of 2.14.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.07. The firm had revenue of $33.20 million for the quarter, compared to analysts' expectations of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company's revenue for the quarter was up 47.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.76) earnings per share. On average, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Bank of America raised their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. JMP Securities restated a "market outperform" rating and issued a $75.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a "buy" rating and a $80.00 price objective on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. Finally, HC Wainwright restated a "buy" rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.09.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

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