Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells 1,395 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Pamela J. Cramer sold 1,395 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $49.06, for a total transaction of $68,438.70. Following the sale, the insider now owns 31,735 shares in the company, valued at $1,556,919.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Rhythm Pharmaceuticals Trading Down 2.2 %

RYTM traded down $1.08 during trading on Tuesday, reaching $47.66. 282,830 shares of the company’s stock were exchanged, compared to its average volume of 590,953. Rhythm Pharmaceuticals, Inc. has a one year low of $17.65 and a one year high of $53.92. The stock has a market capitalization of $2.91 billion, a PE ratio of -10.53 and a beta of 2.04. The firm has a fifty day moving average price of $42.83 and a two-hundred day moving average price of $42.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, May 7th. The company reported ($2.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.34) by ($0.01). The business had revenue of $26.00 million for the quarter, compared to the consensus estimate of $26.90 million. Rhythm Pharmaceuticals had a negative return on equity of 179.26% and a negative net margin of 297.91%. The company’s revenue was up 126.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.92) earnings per share. Sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.45 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on RYTM shares. Canaccord Genuity Group decreased their target price on shares of Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Needham & Company LLC raised their target price on shares of Rhythm Pharmaceuticals from $46.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company decreased their target price on shares of Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Finally, Bank of America lowered shares of Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the company from $49.00 to $42.00 in a report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $55.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC lifted its position in shares of Rhythm Pharmaceuticals by 62.6% in the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after purchasing an additional 253 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Rhythm Pharmaceuticals by 4.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,181 shares of the company’s stock valued at $422,000 after purchasing an additional 406 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Rhythm Pharmaceuticals by 91.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,256 shares of the company’s stock valued at $58,000 after purchasing an additional 600 shares in the last quarter. American International Group Inc. increased its stake in Rhythm Pharmaceuticals by 3.1% during the 1st quarter. American International Group Inc. now owns 26,318 shares of the company’s stock valued at $1,140,000 after purchasing an additional 781 shares in the last quarter. Finally, AJOVista LLC bought a new stake in Rhythm Pharmaceuticals during the 4th quarter valued at $42,000.

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.