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 $4,434,882 were sold by Lee Jennifer Kayden on Nov 11 ’24. At $66.33 per share, Lee Jennifer Kayden sold 66,861 shares. The insider’s holdings dropped to 972 shares worth approximately $58388.04 following the completion of this transaction.
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Also, Shulman Joseph sold 13,281 shares, netting a total of over 882,341 in proceeds. Following the sale of shares at $66.44 each, the insider now holds 0 shares.
Before that, JENNIFER KAYDEN LEE had added 66,861 shares to its account. In a trade valued at $4,501,751, the Officer bought Rhythm Pharmaceuticals Inc shares for $67.33 each.
As published in their initiating research note from Jefferies on January 02, 2025, Rhythm Pharmaceuticals Inc [RYTM] has been a Buy and the price target has been revised to $80. Analysts at Oppenheimer started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid December. As of October 21, 2024, Guggenheim has initiated its “Buy” rating for RYTM. Earlier on September 18, 2024, H.C. Wainwright initiated its rating. Their recommendation was “a Buy” for RYTM stock.
Analyzing RYTM Stock Performance
During the last five days, there has been a surge of approximately 7.56%. Over the course of the year, Rhythm Pharmaceuticals Inc shares have jumped approximately 7.31%. Shares of the company reached a 52-week high of $60.52 on 01/02/25 and a 52-week low of $56.53 on 01/02/25. A 50-day SMA is recorded $56.97, while a 200-day SMA reached $47.50. Nevertheless, trading volume fell to 0.86 million shares from 0.52 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 57.56, which, if violated, would cause prices to drop to 55.06. In the upper region, resistance lies at 61.55. The next price resistance is at 63.03. RSI (Relative Strength Index) is 59.79 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.42, which suggests the price will increase in the coming days. Percent R is at 6.31%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
