Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German Sells 368 Shares

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTMGet Free Report) CAO Christopher Paul German sold 368 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $41.76, for a total transaction of $15,367.68. Following the sale, the chief accounting officer now directly owns 795 shares in the company, valued at $33,199.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM opened at $40.89 on Thursday. The stock has a market cap of $2.46 billion, a P/E ratio of -12.78 and a beta of 1.90. The firm has a fifty day moving average price of $44.15 and a 200 day moving average price of $36.89. Rhythm Pharmaceuticals, Inc. has a 1-year low of $15.50 and a 1-year high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTMGet Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.70) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.70). The firm had revenue of $24.23 million during the quarter, compared to analysts’ expectations of $25.38 million. Rhythm Pharmaceuticals had a negative net margin of 238.50% and a negative return on equity of 96.02%. Rhythm Pharmaceuticals’s quarterly revenue was up 175.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.75) EPS. Sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.03 EPS for the current fiscal year.

Institutional Trading of Rhythm Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. AJOVista LLC purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $42,000. Nisa Investment Advisors LLC increased its holdings in shares of Rhythm Pharmaceuticals by 91.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,256 shares of the company’s stock valued at $58,000 after purchasing an additional 600 shares in the last quarter. KBC Group NV purchased a new position in Rhythm Pharmaceuticals during the 4th quarter valued at about $58,000. China Universal Asset Management Co. Ltd. increased its holdings in Rhythm Pharmaceuticals by 95.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,458 shares of the company’s stock valued at $33,000 after acquiring an additional 713 shares in the last quarter. Finally, Quarry LP purchased a new position in Rhythm Pharmaceuticals during the 4th quarter valued at about $69,000.

Analysts Set New Price Targets

A number of equities research analysts have commented on RYTM shares. The Goldman Sachs Group increased their price objective on shares of Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Thursday, February 22nd. Morgan Stanley raised shares of Rhythm Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $29.00 to $55.00 in a research report on Tuesday, December 19th. Finally, Wells Fargo & Company increased their target price on shares of Rhythm Pharmaceuticals from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, December 19th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $47.40.

Read Our Latest Analysis on Rhythm Pharmaceuticals

About Rhythm Pharmaceuticals

(Get Free Report)

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.

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