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 stock was sold at an average price of $30.09, for a total transaction of $1,143,420.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
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 stock was sold at an average price of $29.80, for a total transaction of $947,640.00.
NASDAQ:RYTM opened at $31.34 on Friday. Rhythm Pharmaceuticals Inc has a 1 year low of $16.80 and a 1 year high of $37.23. The firm has a market capitalization of $1.02 billion and a P/E ratio of -11.07.
Large investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in Rhythm Pharmaceuticals by 110.5% in the 2nd 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 grew its stake in Rhythm Pharmaceuticals by 642.8% in the 2nd 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 acquired a new position in Rhythm Pharmaceuticals in the 2nd quarter valued at $313,000. Rhumbline Advisers acquired a new position in Rhythm Pharmaceuticals in the 2nd quarter valued at $357,000. Finally, TD Asset Management Inc. acquired a new position in Rhythm Pharmaceuticals in the 2nd quarter valued at $364,000. Institutional investors and hedge funds own 87.08% of the company’s stock.
RYTM has been the topic of several analyst reports. Morgan Stanley set a $38.00 price target on shares of Rhythm Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, September 7th. Zacks Investment Research lowered shares of Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. BidaskClub lowered shares of Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Stifel Nicolaus initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Friday, September 14th. They set a “hold” rating and a $36.00 price target on the stock. Finally, Needham & Company LLC set a $42.00 price target on shares of Rhythm Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, August 9th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $38.60.
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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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