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

by · The Markets Daily

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Get Free Report) insider Alastair Garfield sold 7,763 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $117.57, for a total value of $912,695.91. Following the completion of the transaction, the insider owned 2,295 shares of the company’s stock, valued at approximately $269,823.15. This trade represents a 77.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rhythm Pharmaceuticals Stock Down 0.0%

Shares of RYTM stock traded down $0.04 during mid-day trading on Monday, reaching $115.44. 412,048 shares of the company’s stock traded hands, compared to its average volume of 787,953. Rhythm Pharmaceuticals, Inc. has a 12 month low of $74.50 and a 12 month high of $122.20. The company has a market cap of $7.91 billion, a P/E ratio of -37.12 and a beta of 1.92. The company’s 50-day moving average price is $105.44 and its 200-day moving average price is $96.40.

Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.08. The firm had revenue of $71.25 million for the quarter, compared to the consensus estimate of $67.66 million. Rhythm Pharmaceuticals had a negative net margin of 85.59% and a negative return on equity of 159.87%. The company’s revenue was up 46.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.75) EPS. Equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -2.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RYTM. BlackRock Inc. bought a new position in Rhythm Pharmaceuticals in the 2nd quarter valued at approximately $683,601,000. Primecap Management Co. CA bought a new stake in shares of Rhythm Pharmaceuticals in the 2nd quarter worth $351,838,000. Vanguard Group Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 24.3% in the 4th quarter. Vanguard Group Inc. now owns 6,210,916 shares of the company’s stock worth $664,816,000 after purchasing an additional 1,214,489 shares in the last quarter. RA Capital Management L.P. raised its stake in shares of Rhythm Pharmaceuticals by 17.3% in the fourth quarter. RA Capital Management L.P. now owns 6,666,837 shares of the company’s stock worth $713,618,000 after purchasing an additional 985,478 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new position in shares of Rhythm Pharmaceuticals in the second quarter worth $102,752,000.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RYTM shares. TD Cowen reaffirmed a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Stifel Nicolaus set a $133.00 price target on Rhythm Pharmaceuticals in a research note on Monday, June 15th. Citigroup reaffirmed a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Wells Fargo & Company lifted their price objective on Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Finally, Royal Bank Of Canada boosted their target price on Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Fifteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.44.

Get Our Latest Analysis on Rhythm Pharmaceuticals

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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