Der Ploeg Leonardus H.T. Van Sells 38,000 Shares of Rhythm Pharmaceuticals Inc (RYTM) Stock

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Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) insider Der Ploeg Leonardus H.T. Van sold 38,000 shares of the stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $30.09, for a total value of $1,143,420.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Der Ploeg Leonardus H.T. Van also recently made the following trade(s):

  • On Tuesday, September 25th, Der Ploeg Leonardus H.T. Van sold 31,800 shares of Rhythm Pharmaceuticals stock. The shares were sold at an average price of $29.80, for a total value of $947,640.00.

NASDAQ:RYTM opened at $29.90 on Wednesday. The firm has a market capitalization of $1.06 billion and a P/E ratio of -10.57. Rhythm Pharmaceuticals Inc has a 12 month low of $16.80 and a 12 month high of $37.23.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Wednesday, August 8th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.04). As a group, equities analysts expect that Rhythm Pharmaceuticals Inc will post -1.94 EPS for the current fiscal year.

Several brokerages have recently issued reports on RYTM. ValuEngine upgraded Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, October 17th. BidaskClub upgraded Rhythm Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. Needham & Company LLC set a $42.00 price objective on Rhythm Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 9th. Stifel Nicolaus began coverage on Rhythm Pharmaceuticals in a research note on Friday, September 14th. They issued a “hold” rating and a $36.00 price objective on the stock. Finally, Zacks Investment Research cut Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Rhythm Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $38.60.

A number of large investors have recently bought and sold shares of RYTM. Bank of America Corp DE increased its holdings in Rhythm Pharmaceuticals by 110.5% in the second quarter. Bank of America Corp DE now owns 6,251 shares of the company’s stock valued at $195,000 after buying an additional 3,282 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in Rhythm Pharmaceuticals by 642.8% in the second quarter. Cubist Systematic Strategies LLC now owns 8,735 shares of the company’s stock valued at $273,000 after buying an additional 7,559 shares during the last quarter. Highland Capital Management LP purchased a new position in Rhythm Pharmaceuticals in the second quarter valued at $313,000. Rhumbline Advisers purchased a new position in Rhythm Pharmaceuticals in the second quarter valued at $357,000. Finally, TD Asset Management Inc. purchased a new position in Rhythm Pharmaceuticals in the second quarter valued at $364,000. 87.08% of the stock is currently owned by hedge funds and other institutional investors.

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About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of peptide therapeutics for the treatment of rare genetic disorders of obesity in the United States. Its peptide candidates include Setmelanotide, a melanocortin-4 receptor agonist, which is in Phase III clinical trial to treat POMC and leptin receptor deficiency obesity; and Phase II clinical trial for Bardet-Biedl and Alström syndrome, POMC heterozygous deficiency obesity, and POMC epigenetic disorders.

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