Rhythm Pharmaceuticals Inc.’s filing revealed that its EVP, Head of North America Lee Jennifer Kayden unloaded Company’s shares for reported $42366.0 on Aug 09. In the deal valued at $24.66 per share,1,718 shares were sold. As a result of this transaction, Lee Jennifer Kayden now holds 3,294 shares worth roughly $ 91573.2.
Then, Lee Jennifer Kayden sold 11,223 shares, generating $271,347 in total proceeds. Upon selling the shares at $24.18, the EVP, Head of North America now owns 3,294 shares.
Before that, Cramer Pamela J. sold 930 shares. Rhythm Pharmaceuticals Inc. shares valued at $16,405 were divested by the Chief Human Resources Officer at a price of $17.64 per share. As a result of the transaction, Cramer Pamela J. now holds 8,418 shares, worth roughly $0.23 million.
BofA Securities upgraded its Rhythm Pharmaceuticals Inc. [RYTM] rating to a Buy from a a Neutral in a research note published on Friday, August 01, 2023; the price target was increased to $27 from $22. PT values the company’s stock at a premium of -2.96 to its Friday closing price.
Price Performance Review of RYTM
On Friday, Rhythm Pharmaceuticals Inc. [NASDAQ:RYTM] saw its stock jump 6.88% to $27.80. On the same session, the stock had its day’s lowest price of $25.34, but rose to a high of $27.85. Over the last five days, the stock has gained 7.63%. Rhythm Pharmaceuticals Inc. shares have fallen nearly -4.53% since the year began. Nevertheless, the stocks have risen 23.01% over the past one year. While a 52-week high of $34.99 was reached on 01/09/23, a 52-week low of $15.50 was recorded on 07/06/23. SMA at 50 days reached $21.04, while 200 days put it at $22.48. A total of 0.69 million shares were traded, compared to the trading of 0.7 million shares in the previous session.
Levels Of Support And Resistance For RYTM Stock
The 24-hour chart illustrates a support level at 26.14, which if violated will result in even more drops to 24.49. On the upside, there is a resistance level at 28.65. A further resistance level may holdings at 29.51. The Relative Strength Index (RSI) on the 14-day chart is 74.16, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.82, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 1.26%. Stochastics %K at 79.76% indicates the stock is a holding.
How much short interest is there in Rhythm Pharmaceuticals Inc.?
A steep rise in short interest was recorded in Rhythm Pharmaceuticals Inc. stocks on Aug 14, 2023, dropping by -0.52 million shares to a total of 10.96 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 11.48 million shares. There was a decline of -4.74%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 32.02% of the overall stock float, the days-to-cover ratio (short ratio) fell to 12.59.
Rhythm Pharmaceuticals Inc. [RYTM] – Who Are The Largest Shareholders?
In filings from PRIMECAP Management Co., it is revealed that the company now owns 8,299,317 shares, or roughly 14.60% of the outstanding RYTM shares. In other words, the investor’s shares have risen by 692,006 from its previous 13-F filing of 7607311.0.. Over the last quarter, Goldman Sachs & Co. LLC sold -168,565 shares of Rhythm Pharmaceuticals Inc., while Federated Global Investment Manag sold 0 shares. At present, BlackRock Fund Advisors is holding 3,518,783 shares valued at $62.78 million. SSgA Funds Management, Inc. owned 3,267,425 shares of the company at the time of its most recent 13F filing, worth $58.29 million.
According to FactSet, Rhythm Pharmaceuticals Inc.’s share price will average $38.22 in the next year, based on opinions of analysts polled by the firm. This is up nearly 46.1 percent from its previous closing price of $26.01. Analysts expect Rhythm Pharmaceuticals Inc. stock to reach the higher price of $52.00, while the lowest price estimate is $27.00. However, 9 analysts have rated RYTM stock as a Buy in their predictions for 2023.