Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells 4,099 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Pamela J. Cramer sold 4,099 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $50.03, for a total value of $205,072.97. Following the completion of the transaction, the insider now owns 13,500 shares of the company’s stock, valued at approximately $675,405. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock traded up $0.22 during midday trading on Wednesday, hitting $49.31. The company had a trading volume of 420,459 shares, compared to its average volume of 555,087. Rhythm Pharmaceuticals, Inc. has a 52-week low of $20.97 and a 52-week high of $53.92. The stock has a market capitalization of $3.01 billion, a P/E ratio of -10.60 and a beta of 2.07. The company has a 50 day moving average of $46.97 and a 200 day moving average of $42.73.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, August 6th. The company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The firm had revenue of $29.08 million for the quarter, compared to analysts’ expectations of $28.79 million. During the same period in the prior year, the firm posted ($0.82) earnings per share. The company’s quarterly revenue was up 51.3% on a year-over-year basis. Equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS for the current year.

Institutional Trading of Rhythm Pharmaceuticals

Several institutional investors have recently bought and sold shares of RYTM. Perceptive Advisors LLC raised its holdings in Rhythm Pharmaceuticals by 5.4% in the second quarter. Perceptive Advisors LLC now owns 3,446,579 shares of the company’s stock worth $141,517,000 after buying an additional 178,000 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Rhythm Pharmaceuticals by 2.4% during the first quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company’s stock valued at $143,169,000 after acquiring an additional 77,208 shares in the last quarter. Frazier Life Sciences Management L.P. raised its holdings in Rhythm Pharmaceuticals by 8.3% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock worth $97,366,000 after acquiring an additional 181,125 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in Rhythm Pharmaceuticals by 38.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company’s stock worth $48,548,000 after acquiring an additional 326,865 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Rhythm Pharmaceuticals by 381.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 730,643 shares of the company’s stock valued at $31,659,000 after acquiring an additional 578,800 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.83.

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.