Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Get Free Report) insider Joseph Shulman sold 5,079 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $119.75, for a total transaction of $608,210.25. Following the completion of the sale, the insider directly owned 15,915 shares of the company's stock, valued at approximately $1,905,821.25. This trade represents a 24.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Rhythm Pharmaceuticals Stock Performance
Shares of RYTM stock opened at $115.44 on Tuesday. The stock's 50-day moving average is $106.03 and its two-hundred day moving average is $96.47. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of -37.12 and a beta of 1.92. Rhythm Pharmaceuticals, Inc. has a 1 year low of $74.50 and a 1 year high of $122.20.
Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.73) EPS for the quarter, topping 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 business had revenue of $71.25 million for the quarter, compared to analysts' expectations of $67.66 million. During the same quarter in the previous year, the firm earned ($0.75) earnings per share. The business's revenue was up 46.9% compared to the same quarter last year. As a group, research analysts predict that Rhythm Pharmaceuticals, Inc. will post -2.82 EPS for the current year.
Institutional Investors Weigh In On Rhythm Pharmaceuticals
Several large investors have recently modified their holdings of RYTM. AQR Capital Management LLC lifted its stake in shares of Rhythm Pharmaceuticals by 148.2% in the 1st quarter. AQR Capital Management LLC now owns 39,363 shares of the company's stock worth $2,085,000 after acquiring an additional 23,506 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Rhythm Pharmaceuticals by 6.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,282 shares of the company's stock valued at $1,874,000 after purchasing an additional 2,126 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Rhythm Pharmaceuticals by 62.9% in the 2nd quarter. Prudential Financial Inc. now owns 7,095 shares of the company's stock valued at $423,000 after purchasing an additional 2,740 shares in the last quarter. Qube Research & Technologies Ltd increased its position in Rhythm Pharmaceuticals by 11.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 240,345 shares of the company's stock worth $15,187,000 after purchasing an additional 24,152 shares during the period. Finally, Sei Investments Co. increased its position in Rhythm Pharmaceuticals by 10.0% during the 2nd quarter. Sei Investments Co. now owns 33,145 shares of the company's stock worth $2,095,000 after purchasing an additional 3,004 shares during the period.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the company. Wells Fargo & Company lifted their price target on Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the stock an "overweight" rating in a research report on Monday, June 15th. Stifel Nicolaus set a $133.00 price objective on Rhythm Pharmaceuticals in a report on Monday, June 15th. National Bank Financial set a $160.00 target price on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Royal Bank Of Canada lifted their target price on shares of Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Rhythm Pharmaceuticals in a research report on Friday, July 17th. Fifteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.44.
View Our Latest Analysis on RYTM
Rhythm Pharmaceuticals Company Profile
(
Get Free Report)
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.
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