Insider Selling: Cramer Pamela J., Rhythm Pharmaceuticals Inc. [RYTM] Chief Human Resources Officer divested 13,493 shares

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Rhythm Pharmaceuticals Inc. shares valued at $335,031 were sold by Cramer Pamela J. on Aug 19. At $24.83 per share, Cramer Pamela J. sold 13,493 shares. The insider’s holdings dropped to 2,224 shares worth approximately $54109.92 following the completion of this transaction.


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Also, Cramer Pamela J. sold 901 shares, netting a total of over 10,524 in proceeds. Following the sale of shares at $11.68 each, the insider now holds 2,224 shares.

Before that, Smith Hunter C had sold 7,547 shares from its account. In a trade valued at $30,792, the Chief Financial Officer traded Rhythm Pharmaceuticals Inc. shares for $4.08 each. Upon closing the transaction, the insider’s holdings decreased to 7,547 shares, worth approximately $1.4 million.

As published in a research note from Goldman on August 08, 2022, Rhythm Pharmaceuticals Inc. [RYTM] has been rated up from a Neutral to a Buy and the price target has been revised to $28. This represents a 13.11% premium over Wednesday’s closing price. Analysts at BofA Securities upgraded the stock from ‘”an Underperform”‘ to ‘”a Neutral”‘ outlook in a report released in early August. As of June 17, 2022, Needham has reiterated its “Buy” rating for RYTM.

Analyzing RYTM’s Price Performance

On Wednesday, Rhythm Pharmaceuticals Inc. [NASDAQ: RYTM] rose 1.04% to $24.33. The stock’s lowest price that day was $23.22, but it reached a high of $24.99 in the same session. During the last five days, there has been a drop of approximately -21.13%. Over the course of the year, Rhythm Pharmaceuticals Inc. shares have jumped approximately 143.79%. Shares of the company reached a 52-week high of $30.98 on 09/14/22 and a 52-week low of $3.04 on 05/20/22. A 50-day SMA is recorded $19.88, while a 200-day SMA reached $10.56. Nevertheless, trading volume fell to 1.79 million shares from 1.06 million shares the previous day.

Support And Resistance Levels for Rhythm Pharmaceuticals Inc. (RYTM)

According to the 24-hour chart, there is a support level at 23.37, which, if violated, would cause prices to drop to 22.41. In the upper region, resistance lies at 25.14. The next price resistance is at 25.95. RSI (Relative Strength Index) is 52.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.48, which suggests the price will decrease in the coming days. Percent R is at 61.18%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Rhythm Pharmaceuticals Inc. subject to short interest?

Stocks of Rhythm Pharmaceuticals Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.27 million shares to 5.94 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.67 million shares. A jump of 38.22% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.82 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.82.

Which companies own the most shares of Rhythm Pharmaceuticals Inc. (RYTM)?

According to PRIMECAP Management Co. filings, the company currently owns 6,364,094 shares, which is about 12.55% of the total RYTM shares outstanding. The investor’s shares have appreciated by 72,103 from its previous 13-F filing of 6291991.0 shares. Federated Global Investment Manag reduced a -13.22% interest valued at $99.34 million while Baker Bros. Advisors LP 0 stake. In its current portfolio, Janus Henderson Investors US LLC holds 2,073,295 shares valued at $46.86 million.

In terms of Rhythm Pharmaceuticals Inc. share price expectations, FactSet research, analysts set an average price target of $29.25 in the next 12 months, up nearly 16.28% from the previous closing price of $24.08. Analysts anticipate Rhythm Pharmaceuticals Inc. stock to reach $40.00 by 2022, with the lowest price target being $16.00. In spite of this, 8 analysts ranked Rhythm Pharmaceuticals Inc. stock as an Overweight at the end of 2022. On February 17, 2022, Ladenburg Thalmann assigned a price target of “a Buy” to the stock and upgraded coverage with a $15.

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