Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Insider Sells 1,228 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 1,228 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $70,266.16. Following the completion of the sale, the insider now directly owns 8,509 shares in the company, valued at approximately $486,884.98. This represents a 12.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, February 11th, Joseph Shulman sold 794 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $57.51, for a total value of $45,662.94.
• On Tuesday, February 4th, Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $59.43, for a total value of $76,129.83.

Rhythm Pharmaceuticals Trading Up 0.8 %

Shares of NASDAQ:RYTM traded up $0.45 on Wednesday, reaching $58.00. 374,320 shares of the company’s stock were exchanged, compared to its average volume of 471,501. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58. The company has a fifty day moving average of $57.06 and a 200-day moving average of $53.86. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of -13.39 and a beta of 2.14.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RYTM. GF Fund Management CO. LTD. acquired a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $72,000. Voloridge Investment Management LLC increased its position in Rhythm Pharmaceuticals by 7.7% during the 4th quarter. Voloridge Investment Management LLC now owns 380,537 shares of the company’s stock worth $21,302,000 after purchasing an additional 27,214 shares in the last quarter. Two Sigma Advisers LP boosted its position 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 in the last quarter. State of Wyoming bought a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter worth $61,000. Finally, Stempoint Capital LP lifted its stake in shares of Rhythm Pharmaceuticals by 404.1% in the 4th quarter. Stempoint Capital LP now owns 208,016 shares of the company’s stock valued at $11,645,000 after acquiring an additional 166,748 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a “buy” rating and a $80.00 target price for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Finally, The Goldman Sachs Group boosted their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $68.09.

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.