Insider Selling: Rhythm Pharmaceuticals (NASDAQ:RYTM) Insider Sells $912,695.91 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Alastair Garfield sold 7,763 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $117.57, for a total value of $912,695.91. Following the transaction, the insider owned 2,295 shares of the company’s stock, valued at $269,823.15. This represents a 77.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM opened at $115.73 on Thursday. Rhythm Pharmaceuticals, Inc. has a 12 month low of $74.50 and a 12 month high of $122.20. The stock has a fifty day moving average price of $107.17 and a 200 day moving average price of $96.65. The company has a market cap of $7.93 billion, a P/E ratio of -37.21 and a beta of 1.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative return on equity of 159.87% and a negative net margin of 85.59%.The company had revenue of $71.25 million for the quarter, compared to analysts’ expectations of $67.66 million. During the same period last year, the business posted ($0.75) earnings per share. The firm’s quarterly revenue was up 46.9% compared to the same quarter last year. As a group, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -2.82 earnings per share for the current year.

Hedge Funds Weigh In On Rhythm Pharmaceuticals

Several large investors have recently made changes to their positions in RYTM. GAMMA Investing LLC raised its holdings in shares of Rhythm Pharmaceuticals by 36.3% in the 2nd quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares in the last quarter. Xponance LLC grew its position in Rhythm Pharmaceuticals by 2.6% in the fourth quarter. Xponance LLC now owns 4,269 shares of the company’s stock worth $457,000 after buying an additional 107 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Rhythm Pharmaceuticals by 39.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after buying an additional 113 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Rhythm Pharmaceuticals by 0.7% in the second quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock valued at $1,104,000 after buying an additional 114 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in shares of Rhythm Pharmaceuticals by 73.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 145 shares during the last quarter.

Wall Street Analysts Forecast Growth

RYTM has been the topic of several analyst reports. Royal Bank Of Canada raised their target price on Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, July 17th. National Bank Financial set a $160.00 price target on Rhythm Pharmaceuticals in a report on Wednesday, August 5th. TD Cowen reissued a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 17th. Finally, Wall Street Zen raised shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Fifteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.44.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a clinical?stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin?4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.