The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Rhythm Pharmaceuticals Inc shares valued at $293,703 were purchased by PAMELA CRAMER on Nov 07 ’24. At $62.65 per share, PAMELA CRAMER acquired 4,688 shares.
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Also, PAMELA CRAMER purchased 4,687 shares, netting a total of over 263,644 in proceeds.
Before that, GOOD JENNIFER L had sold 31,751 shares from its account. In a trade valued at $1,663,803, the Director traded Rhythm Pharmaceuticals Inc shares for $52.40 each. Upon closing the transaction, the insider’s holdings decreased to 31,751 shares, worth approximately $0.19 million.
As published in their initiating research note from Guggenheim on October 21, 2024, Rhythm Pharmaceuticals Inc [RYTM] has been a Buy and the price target has been revised to $70. Analysts at H.C. Wainwright started covering the stock with ‘”a Buy”‘ outlook in a report released in mid September. As of September 17, 2024, JMP Securities has initiated its “Mkt outperform” rating for RYTM. Earlier on May 08, 2024, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for RYTM stock which previously was a “a Buy”.
Analyzing RYTM Stock Performance
During the last five days, there has been a surge of approximately 33.88%. Over the course of the year, Rhythm Pharmaceuticals Inc shares have jumped approximately 39.00%. Shares of the company reached a 52-week high of $65.14 on 11/07/24 and a 52-week low of $35.17 on 05/29/24. A 50-day SMA is recorded $50.58, while a 200-day SMA reached $44.98. Nevertheless, trading volume fell to 1.07 million shares from 2.77 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 62.35, which, if violated, would cause prices to drop to 60.81. In the upper region, resistance lies at 65.29. The next price resistance is at 66.69. RSI (Relative Strength Index) is 78.23 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 8.96, which suggests the price will increase in the coming days. Percent R is at 7.07%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
