Insider Selling: Rhythm Pharmaceuticals (NASDAQ:RYTM) CAO Sells $502,789.84 in Stock

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

Rhythm Pharmaceuticals Stock Up 2.3%

RYTM opened at $93.52 on Monday. The company has a market cap of $6.39 billion, a P/E ratio of -30.07 and a beta of 2.06. The firm’s 50-day moving average price is $101.91 and its 200-day moving average price is $103.39. Rhythm Pharmaceuticals, Inc. has a 52-week low of $45.90 and a 52-week high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Thursday, February 26th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.06. The company had revenue of $57.25 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 36.9% on a year-over-year basis. During the same period last year, the business earned ($0.72) EPS. On average, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RYTM has been the subject of several research reports. Needham & Company LLC lowered their price objective on shares of Rhythm Pharmaceuticals from $148.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. UBS Group reissued a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 17th. Guggenheim raised their target price on Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Zacks Research raised Rhythm Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, HC Wainwright dropped their price target on Rhythm Pharmaceuticals from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $132.07.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in RYTM. Invesco Ltd. raised its stake in shares of Rhythm Pharmaceuticals by 102.8% during the 4th quarter. Invesco Ltd. now owns 291,150 shares of the company’s stock valued at $31,165,000 after buying an additional 147,595 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Rhythm Pharmaceuticals by 94.1% in the fourth quarter. Empowered Funds LLC now owns 4,164 shares of the company’s stock worth $446,000 after buying an additional 2,019 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $1,117,000. Wellington Management Group LLP grew its holdings in Rhythm Pharmaceuticals by 922.0% during the fourth quarter. Wellington Management Group LLP now owns 250,156 shares of the company’s stock worth $26,777,000 after acquiring an additional 225,679 shares during the period. Finally, SummitTX Capital L.P. grew its holdings in Rhythm Pharmaceuticals by 580.2% during the fourth quarter. SummitTX Capital L.P. now owns 80,729 shares of the company’s stock worth $8,641,000 after acquiring an additional 68,860 shares during the period.

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.