Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Joseph Shulman Sells 794 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 794 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $57.51, for a total value of $45,662.94. Following the transaction, the insider now owns 6 shares in the company, valued at $345.06. This trade represents a 99.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Joseph Shulman also recently made the following trade(s):

• On Tuesday, February 4th, Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $59.43, for a total value of $76,129.83.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM stock opened at $57.58 on Wednesday. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The firm has a market cap of $3.54 billion, a P/E ratio of -13.30 and a beta of 2.14. The business’s 50 day moving average price is $57.22 and its 200-day moving average price is $53.42.

Analyst Upgrades and Downgrades

RYTM has been the topic of several research reports. Jefferies Financial Group assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target on the stock. Oppenheimer assumed coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an “outperform” rating and a $76.00 price target for the company. Guggenheim began coverage on Rhythm Pharmaceuticals in a research note on Monday, October 21st. They set a “buy” rating and a $70.00 price objective on the stock. TD Cowen boosted their target price on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, HC Wainwright restated a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $68.09.

Institutional Trading of Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RYTM. Exchange Traded Concepts LLC raised its holdings in Rhythm Pharmaceuticals by 26.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 15,057 shares of the company’s stock worth $789,000 after purchasing an additional 3,137 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Rhythm Pharmaceuticals during the third quarter valued at about $63,000. Creative Planning bought a new position in Rhythm Pharmaceuticals in the third quarter worth about $450,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Rhythm Pharmaceuticals by 4.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 100,961 shares of the company’s stock worth $5,289,000 after buying an additional 4,583 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Rhythm Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock valued at $114,000 after acquiring an additional 391 shares in the last quarter.

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.