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 $15,368 were sold by German Christopher Paul on Apr 02 ’24. At $41.76 per share, German Christopher Paul sold 368 shares. The insider’s holdings dropped to 795 shares worth approximately $30941.4 following the completion of this transaction.
Also, Shulman Joseph sold 18,235 shares, netting a total of over 735,600 in proceeds. Following the sale of shares at $40.34 each, the insider now holds 30 shares.
Before that, Lee Jennifer Kayden had sold 18,235 shares from its account. In a trade valued at $707,005, the EVP, Head of North America traded Rhythm Pharmaceuticals Inc. shares for $38.77 each. Upon closing the transaction, the insider’s holdings decreased to 18,235 shares, worth approximately $0.27 million.
As published in a research note from BofA Securities on May 08, 2024, Rhythm Pharmaceuticals Inc. [RYTM] has been rated down from a Buy to a Neutral and the price target has been revised to $42 from $49. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid December. As of August 01, 2023, BofA Securities has increased its “Neutral” rating to a “Buy” for RYTM.
Analyzing RYTM Stock Performance
During the last five days, there has been a drop of approximately -6.06%. Over the course of the year, Rhythm Pharmaceuticals Inc. shares have dropped approximately -15.34%. Shares of the company reached a 52-week high of $52.57 on 02/12/24 and a 52-week low of $36.58 on 05/08/24. A 50-day SMA is recorded $40.70, while a 200-day SMA reached $34.74. Nevertheless, trading volume fell to 1.19 million shares from 0.98 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 37.27, which, if violated, would cause prices to drop to 35.63. In the upper region, resistance lies at 39.87. The next price resistance is at 40.83. RSI (Relative Strength Index) is 44.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.71, which suggests the price will decrease in the coming days. Percent R is at 69.96%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
