Insider Selling: Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Sells 635 Shares of Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) CAO Christopher Paul German sold 635 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the transaction, the chief accounting officer now owns 2,070 shares in the company, valued at approximately $118,445.40. This trade represents a 23.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rhythm Pharmaceuticals Stock Performance

NASDAQ RYTM traded up $0.45 during trading hours on Wednesday, reaching $58.00. The company’s stock had a trading volume of 374,320 shares, compared to its average volume of 471,501. The company’s 50-day moving average is $57.06 and its two-hundred day moving average is $53.86. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58. The stock has a market cap of $3.56 billion, a PE ratio of -13.39 and a beta of 2.14.

Analysts Set New Price Targets

Several research firms have issued reports on RYTM. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. The Goldman Sachs Group increased their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. JMP Securities restated a “market outperform” rating and set a $75.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. HC Wainwright reaffirmed a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Finally, TD Cowen raised their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.09.

Institutional Trading of Rhythm Pharmaceuticals

Large investors have recently modified their holdings of the business. SRS Capital Advisors Inc. lifted its stake in Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company’s stock valued at $25,000 after buying an additional 400 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter valued at $37,000. R Squared Ltd acquired a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter valued at $44,000. Finally, State of Wyoming acquired a new stake in shares of Rhythm Pharmaceuticals during the fourth quarter valued at $61,000.

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.