No such file or directory: 'README.rst'

On a Mac with Python 3.6.5 and pip 10.0.1, when I try to run pip3 install colored, I get the following error:

Collecting colored
  Downloading https://files.pythonhosted.org/packages/f0/f7/efba3f5a969da328bf59e48a4056ae4e7bccee236649ec21da8275c953d2/colored-1.3.7.tar.gz
    Complete output from command python setup.py egg_info:
    Traceback (most recent call last):
      File "<string>", line 1, in <module>
      File "/private/var/folders/wp/n5dn44h539lfqgbt8kt2__tr0000gn/T/pip-install-dhe9oytn/colored/setup.py", line 39, in <module>
        long_description=open("README.rst").read()
    FileNotFoundError: [Errno 2] No such file or directory: 'README.rst'

    ----------------------------------------
Command "python setup.py egg_info" failed with error code 1 in /private/var/folders/wp/n5dn44h539lfqgbt8kt2__tr0000gn/T/pip-install-dhe9oytn/colored/

This only seems to happen with versions 1.3.7 and 1.3.6 -- pip3 install colored==1.3.5 does not give me this error.