Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) major shareholder S.A. Ipsen purchased 20,000 shares of the stock in a transaction dated Tuesday, October 10th. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $340,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of Rhythm Pharmaceuticals Inc (NASDAQ RYTM) traded down 13.30% on Tuesday, hitting $26.01. 695,874 shares of the stock traded hands. The firm’s 50 day moving average is $24.57 and its 200-day moving average is $24.57. Rhythm Pharmaceuticals Inc has a 12 month low of $23.99 and a 12 month high of $26.50. The company’s market cap is $678.18 million.

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About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of peptide therapeutics for the treatment of rare genetic deficiencies that result in life-threatening metabolic disorders. The Company’s lead peptide product candidate is setmelanotide, a potent, first-in-class melanocortin-4 receptor, or MC4R, agonist for the treatment of rare genetic disorders of obesity.

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