Rhythm Pharmaceuticals Inc (NASDAQ:RYTM), a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of rare genetic disorders of obesity, reported an insider sell transaction by Chief Technical Officer Joseph Shulman. According to the SEC Filing dated February 13, 2024, the insider sold 73,038 shares of the company.
Over the past year, Joseph Shulman has engaged in multiple transactions, selling a total of 115,193 shares and making no purchases of the company's stock. This latest transaction continues the trend of insider sales for the company, with a total of 22 insider sells and no insider buys occurring over the past year.
On the date of the reported sell, shares of Rhythm Pharmaceuticals Inc were trading at $50.39, valuing the company at a market cap of $2.957 billion. The insider's transaction is part of a broader pattern of insider trading activity at the company.
The insider transaction history for Rhythm Pharmaceuticals Inc indicates a clear preference for selling over buying among insiders, which could be of interest to investors and analysts monitoring the company's stock performance and insider behaviors.
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