Rhythm Pharmaceuticals (NASDAQ:RYTM) Insider Pamela Cramer Sells 3,350 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Pamela Cramer sold 3,350 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $111.00, for a total value of $371,850.00. Following the completion of the sale, the insider directly owned 20,814 shares in the company, valued at $2,310,354. This trade represents a 13.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rhythm Pharmaceuticals Trading Down 0.9%

NASDAQ RYTM traded down $1.04 during trading on Monday, hitting $112.52. 1,430,384 shares of the company’s stock were exchanged, compared to its average volume of 678,598. The company has a market cap of $7.51 billion, a PE ratio of -36.30 and a beta of 1.96. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $45.90 and a fifty-two week high of $122.20. The stock’s 50 day moving average price is $105.31 and its two-hundred day moving average price is $92.49.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). The company had revenue of $51.30 million during the quarter, compared to analyst estimates of $50.71 million. Rhythm Pharmaceuticals had a negative net margin of 110.32% and a negative return on equity of 433.21%. Analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on RYTM shares. Needham & Company LLC boosted their target price on shares of Rhythm Pharmaceuticals from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday. Citizens Jmp boosted their price objective on Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the stock a “market outperform” rating in a research report on Friday. The Goldman Sachs Group increased their target price on Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the company a “buy” rating in a research report on Friday. HC Wainwright lifted their price target on Rhythm Pharmaceuticals from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Finally, Oppenheimer cut Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $124.27.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss Life Asset Management Ltd bought a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at about $249,000. CIBC Bancorp USA Inc. bought a new position in shares of Rhythm Pharmaceuticals during the third quarter worth about $562,000. Centaurus Financial Inc. acquired a new position in shares of Rhythm Pharmaceuticals in the third quarter worth approximately $241,000. Captrust Financial Advisors boosted its holdings in Rhythm Pharmaceuticals by 4.5% in the third quarter. Captrust Financial Advisors now owns 18,258 shares of the company’s stock valued at $1,844,000 after acquiring an additional 787 shares during the last quarter. Finally, Cim Investment Management Inc. bought a new stake in Rhythm Pharmaceuticals in the third quarter valued at approximately $302,000.

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.