Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Director Sells $868,924.65 in Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Director Lynn A. Tetrault sold 17,501 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $49.65, for a total transaction of $868,924.65. Following the sale, the director now directly owns 3,000 shares of the company’s stock, valued at $148,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rhythm Pharmaceuticals Price Performance

RYTM stock opened at $49.62 on Friday. The firm has a market capitalization of $3.03 billion, a P/E ratio of -10.69 and a beta of 2.07. Rhythm Pharmaceuticals, Inc. has a 52-week low of $20.97 and a 52-week high of $53.92. The company’s 50 day simple moving average is $47.31 and its 200-day simple moving average is $42.82.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.16. The company had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.79 million. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The company’s revenue was up 51.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.82) EPS. Sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Perceptive Advisors LLC lifted its position in shares of Rhythm Pharmaceuticals by 5.4% in the second quarter. Perceptive Advisors LLC now owns 3,446,579 shares of the company’s stock worth $141,517,000 after purchasing an additional 178,000 shares in the last quarter. Algert Global LLC lifted its position in Rhythm Pharmaceuticals by 50.8% in the 2nd quarter. Algert Global LLC now owns 104,132 shares of the company’s stock worth $4,276,000 after buying an additional 35,084 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its stake in shares of Rhythm Pharmaceuticals by 8.3% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock valued at $97,366,000 after buying an additional 181,125 shares during the period. Driehaus Capital Management LLC grew its holdings in shares of Rhythm Pharmaceuticals by 38.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company’s stock valued at $48,548,000 after acquiring an additional 326,865 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Rhythm Pharmaceuticals by 3.5% in the second quarter. The Manufacturers Life Insurance Company now owns 49,291 shares of the company’s stock worth $2,024,000 after acquiring an additional 1,667 shares during the last quarter.

Analysts Set New Price Targets

Separately, Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $55.83.

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.