Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Director Sells $1,663,752.40 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Director Jennifer L. Good sold 31,751 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the sale, the director now directly owns 3,000 shares in the company, valued at approximately $157,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM opened at $52.80 on Friday. The firm has a market capitalization of $3.23 billion, a PE ratio of -11.40 and a beta of 2.07. The business has a 50 day simple moving average of $48.13 and a two-hundred day simple moving average of $43.17. Rhythm Pharmaceuticals, Inc. has a 1 year low of $20.97 and a 1 year high of $55.64.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The company had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.79 million. During the same quarter in the prior year, the company posted ($0.82) EPS. Rhythm Pharmaceuticals’s quarterly revenue was up 51.3% on a year-over-year basis. Equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RYTM shares. JMP Securities assumed coverage on shares of Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. Finally, HC Wainwright assumed coverage on Rhythm Pharmaceuticals in a research report on Wednesday. They set a “buy” rating and a $64.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.88.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its position in Rhythm Pharmaceuticals by 62.6% in the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after buying an additional 253 shares during the period. American International Group Inc. boosted its holdings in shares of Rhythm Pharmaceuticals by 3.1% in the first quarter. American International Group Inc. now owns 26,318 shares of the company’s stock valued at $1,140,000 after purchasing an additional 781 shares during the period. ORG Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals in the second quarter valued at approximately $51,000. Principal Financial Group Inc. grew its stake in Rhythm Pharmaceuticals by 20.6% in the first quarter. Principal Financial Group Inc. now owns 7,180 shares of the company’s stock worth $311,000 after purchasing an additional 1,227 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in Rhythm Pharmaceuticals by 513.3% during the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after purchasing an additional 1,391 shares during the period.

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.