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 that occurred on Tuesday, February 11th. The shares were sold at an average price of $57.51, for a total value of $45,662.94. Following the completion of the transaction, the insider now owns 6 shares in the company, valued at approximately $345.06. The trade was a 99.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

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

Rhythm Pharmaceuticals Stock Up 0.1 %

NASDAQ:RYTM opened at $57.64 on Thursday. The business’s 50-day moving average price is $57.11 and its two-hundred day moving average price is $53.51. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of RYTM. SRS Capital Advisors Inc. grew 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 worth $25,000 after buying an additional 400 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth $28,000. SBI Securities Co. Ltd. purchased a new position in Rhythm Pharmaceuticals in the fourth quarter worth $37,000. R Squared Ltd bought a new position in Rhythm Pharmaceuticals in the fourth quarter valued at $44,000. Finally, ORG Wealth Partners LLC bought a new position in Rhythm Pharmaceuticals in the third quarter valued at $63,000.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. TD Cowen lifted their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Jefferies Financial Group initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a “buy” rating and a $80.00 target price for the company. JMP Securities reissued a “market outperform” rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $69.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $80.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.