Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Sells 75,000 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) EVP Yann Mazabraud sold 75,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the transaction, the executive vice president now directly owns 40,370 shares of the company's stock, valued at approximately $2,078,247.60. This trade represents a 65.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Rhythm Pharmaceuticals Stock Performance

RYTM traded down $2.19 during midday trading on Friday, reaching $52.04. 902,524 shares of the company were exchanged, compared to its average volume of 485,874. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The stock has a market capitalization of $3.29 billion, a P/E ratio of -12.02 and a beta of 2.30. The stock's 50-day simple moving average is $55.30 and its 200 day simple moving average is $54.90.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) 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 analyst estimates of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. On average, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

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Analyst Ratings Changes

Several analysts have issued reports on RYTM shares. HC Wainwright boosted their price objective on Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Needham & Company LLC boosted their price objective on Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday. Stifel Nicolaus started coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They set a "buy" rating and a $78.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Finally, Canaccord Genuity Group boosted their price objective on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $69.46.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $4,259,000. GF Fund Management CO. LTD. acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $72,000. Voloridge Investment Management LLC increased its position in shares of Rhythm Pharmaceuticals by 7.7% during the 4th quarter. Voloridge Investment Management LLC now owns 380,537 shares of the company's stock worth $21,302,000 after purchasing an additional 27,214 shares during the last quarter. Two Sigma Advisers LP increased its position 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 worth $733,000 after purchasing an additional 300 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $61,000.

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.