Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Sells $3,861,000.00 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) EVP Yann Mazabraud sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $51.48, for a total value of $3,861,000.00. Following the completion of the sale, the executive vice president now owns 40,370 shares of the company’s stock, valued at $2,078,247.60. This trade represents a 65.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rhythm Pharmaceuticals Stock Down 1.8 %

NASDAQ:RYTM opened at $54.23 on Friday. The stock’s fifty day moving average is $55.38 and its two-hundred day moving average is $54.80. Rhythm Pharmaceuticals, Inc. has a 52 week low of $35.17 and a 52 week high of $68.58. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of -12.52 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The company 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, sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RYTM shares. JMP Securities restated a “market outperform” rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Stifel Nicolaus started coverage on Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They issued a “buy” rating and a $78.00 price target for the company. The Goldman Sachs Group upped their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Needham & Company LLC upped their price objective on Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $72.00 price objective on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.46.

Institutional Trading of Rhythm Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Castleark Management LLC raised its stake in shares of Rhythm Pharmaceuticals by 1.3% in the third quarter. Castleark Management LLC now owns 19,260 shares of the company’s stock valued at $1,009,000 after acquiring an additional 250 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Rhythm Pharmaceuticals by 2.3% in the fourth quarter. Two Sigma Advisers LP now owns 13,100 shares of the company’s stock valued at $733,000 after buying an additional 300 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in Rhythm Pharmaceuticals by 740.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after buying an additional 400 shares during the last quarter. Raleigh Capital Management Inc. purchased a new position in Rhythm Pharmaceuticals in the fourth quarter valued at $28,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Rhythm Pharmaceuticals by 2.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,156 shares of the company’s stock valued at $1,857,000 after buying an additional 654 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.