Joseph Shulman Sells 794 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 794 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $57.51, for a total transaction of $45,662.94. Following the completion of the sale, the insider now directly owns 6 shares in the company, valued at $345.06. This represents a 99.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Joseph Shulman also recently made the following trade(s):

• On Tuesday, February 4th, Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals stock. The stock was sold at an average price of $59.43, for a total transaction of $76,129.83.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM opened at $57.58 on Wednesday. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of -13.30 and a beta of 2.14. The stock’s 50-day simple moving average is $57.22 and its two-hundred day simple moving average is $53.42.

Institutional Trading of Rhythm Pharmaceuticals

Several large investors have recently added to or reduced their stakes in RYTM. Loomis Sayles & Co. L P bought a new position in Rhythm Pharmaceuticals in the third quarter worth approximately $33,353,000. Alkeon Capital Management LLC increased its holdings in Rhythm Pharmaceuticals by 16.8% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock worth $61,176,000 after acquiring an additional 167,700 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Rhythm Pharmaceuticals by 14.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock valued at $58,208,000 after purchasing an additional 143,800 shares in the last quarter. Barclays PLC boosted its position in shares of Rhythm Pharmaceuticals by 79.6% in the third quarter. Barclays PLC now owns 106,397 shares of the company’s stock worth $5,574,000 after purchasing an additional 47,166 shares during the period. Finally, Frazier Life Sciences Management L.P. raised its position in shares of Rhythm Pharmaceuticals by 1.9% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock valued at $126,624,000 after purchasing an additional 45,648 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Oppenheimer initiated coverage on shares of Rhythm Pharmaceuticals in a report on Friday, December 20th. They set an “outperform” rating and a $76.00 target price for the company. JMP Securities reiterated a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. The Goldman Sachs Group raised their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, TD Cowen upped their price target on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.09.

Rhythm Pharmaceuticals Company Profile

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.