Insider Selling: Rhythm Pharmaceuticals (NASDAQ:RYTM) CAO Sells 5,614 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German sold 5,614 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $89.56, for a total transaction of $502,789.84. Following the completion of the sale, the chief accounting officer owned 160 shares in the company, valued at approximately $14,329.60. This trade represents a 97.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Rhythm Pharmaceuticals Stock Up 2.3%

RYTM stock traded up $2.06 during trading on Friday, hitting $93.52. 629,423 shares of the company’s stock traded hands, compared to its average volume of 707,953. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of -30.07 and a beta of 2.06. The stock has a fifty day moving average price of $102.24 and a two-hundred day moving average price of $103.34. Rhythm Pharmaceuticals, Inc. has a 52 week low of $45.90 and a 52 week high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.06. The firm had revenue of $57.25 million for the quarter, compared to the consensus estimate of $56.16 million. Rhythm Pharmaceuticals had a negative net margin of 103.57% and a negative return on equity of 266.56%. Rhythm Pharmaceuticals’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.72) EPS. As a group, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RYTM. Nisa Investment Advisors LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 956.9% in the third quarter. Nisa Investment Advisors LLC now owns 13,254 shares of the company’s stock valued at $1,339,000 after purchasing an additional 12,000 shares in the last quarter. EFG Asset Management North America Corp. acquired a new position in Rhythm Pharmaceuticals during the third quarter valued at $2,047,000. Penserra Capital Management LLC purchased a new stake in Rhythm Pharmaceuticals in the 3rd quarter worth about $3,073,000. Hillsdale Investment Management Inc. purchased a new stake in Rhythm Pharmaceuticals in the 3rd quarter worth about $4,302,000. Finally, Norges Bank acquired a new stake in Rhythm Pharmaceuticals during the 2nd quarter worth about $13,105,000.

Analyst Ratings Changes

RYTM has been the subject of several recent analyst reports. Stifel Nicolaus set a $131.00 price objective on shares of Rhythm Pharmaceuticals in a report on Thursday, February 26th. Wells Fargo & Company lowered their price target on Rhythm Pharmaceuticals from $145.00 to $136.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Citigroup restated an “outperform” rating on shares of Rhythm Pharmaceuticals in a report on Friday, December 12th. Canaccord Genuity Group lowered their target price on Rhythm Pharmaceuticals from $141.00 to $140.00 and set a “buy” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group boosted their price target on shares of Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.07.

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.