Pamela J. Cramer Sells 4,688 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Pamela J. Cramer sold 4,688 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $65.00, for a total transaction of $304,720.00. Following the sale, the insider now directly owns 13,500 shares in the company, valued at $877,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rhythm Pharmaceuticals Trading Up 5.4 %

RYTM traded up $3.43 during trading hours on Friday, reaching $67.33. The company’s stock had a trading volume of 1,096,811 shares, compared to its average volume of 543,910. The business’s 50-day moving average is $50.61 and its 200-day moving average is $45.59. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $26.55 and a fifty-two week high of $67.61.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 286.94% and a negative net margin of 230.07%. The firm had revenue of $33.20 million during the quarter, compared to the consensus estimate of $32.52 million. During the same period last year, the company earned ($0.76) EPS. The company’s quarterly revenue was up 47.6% on a year-over-year basis. As a group, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.45 EPS for the current year.

Analyst Upgrades and Downgrades

RYTM has been the topic of several analyst reports. Needham & Company LLC lifted their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday. JMP Securities started coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price target for the company. HC Wainwright increased their price target on Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America boosted their price objective on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, TD Cowen lifted their price target on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $62.30.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Large investors have recently made changes to their positions in the stock. CWM LLC raised its position in Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after purchasing an additional 253 shares during the period. ORG Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals in the 2nd quarter valued at $51,000. ORG Wealth Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals in the third quarter valued at approximately $63,000. Quest Partners LLC boosted its stake in Rhythm Pharmaceuticals by 513.3% in the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after acquiring an additional 1,391 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after buying an additional 391 shares during the last quarter.

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.