Rhythm Pharmaceuticals Inc (RYTM) CEO Sells $496,320.00 in Stock

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Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) CEO Keith Michael Gottesdiener sold 16,500 shares of the firm’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $30.08, for a total value of $496,320.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NASDAQ RYTM opened at $31.34 on Friday. The firm has a market capitalization of $1.02 billion and a PE ratio of -11.07. Rhythm Pharmaceuticals Inc has a 52 week low of $16.80 and a 52 week high of $37.23.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Wednesday, August 8th. The company reported ($0.52) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.04). Sell-side analysts predict that Rhythm Pharmaceuticals Inc will post -1.94 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in shares of Rhythm Pharmaceuticals by 110.5% during the second quarter. Bank of America Corp DE now owns 6,251 shares of the company’s stock worth $195,000 after purchasing an additional 3,282 shares during the period. Cubist Systematic Strategies LLC grew its stake in shares of Rhythm Pharmaceuticals by 642.8% during the second quarter. Cubist Systematic Strategies LLC now owns 8,735 shares of the company’s stock worth $273,000 after purchasing an additional 7,559 shares during the period. Highland Capital Management LP acquired a new stake in shares of Rhythm Pharmaceuticals during the second quarter worth $313,000. Rhumbline Advisers acquired a new stake in shares of Rhythm Pharmaceuticals during the second quarter worth $357,000. Finally, TD Asset Management Inc. acquired a new stake in shares of Rhythm Pharmaceuticals during the second quarter worth $364,000. 87.08% of the stock is owned by institutional investors.

RYTM has been the subject of several research reports. BidaskClub cut Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Needham & Company LLC set a $42.00 target price on Rhythm Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 9th. Zacks Investment Research cut Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Morgan Stanley set a $38.00 target price on Rhythm Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, September 7th. Finally, Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a research note on Friday, September 14th. They issued a “hold” rating and a $36.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $38.60.

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Rhythm Pharmaceuticals Company Profile

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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