Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) EVP Sells $253,778.80 in Stock

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) EVP Thomas Richard Kassberg sold 6,028 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $253,778.80. Following the completion of the sale, the executive vice president now owns 265,238 shares in the company, valued at $11,166,519.80. This represents a 2.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Ultragenyx Pharmaceutical Stock Down 0.4 %

NASDAQ:RARE traded down $0.16 during mid-day trading on Tuesday, reaching $41.10. The company’s stock had a trading volume of 1,385,598 shares, compared to its average volume of 779,217. Ultragenyx Pharmaceutical Inc. has a 1 year low of $37.02 and a 1 year high of $60.37. The stock has a fifty day moving average of $42.86 and a 200-day moving average of $49.03. The firm has a market capitalization of $3.80 billion, a PE ratio of -6.48 and a beta of 0.60.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The firm had revenue of $164.88 million during the quarter, compared to the consensus estimate of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. On average, analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of large investors have recently added to or reduced their stakes in RARE. Norges Bank bought a new position in Ultragenyx Pharmaceutical in the fourth quarter worth about $40,463,000. Alkeon Capital Management LLC raised its holdings in Ultragenyx Pharmaceutical by 34.3% in the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after purchasing an additional 769,884 shares in the last quarter. Vestal Point Capital LP increased its holdings in shares of Ultragenyx Pharmaceutical by 100.0% during the fourth quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $63,105,000 after acquiring an additional 750,000 shares in the last quarter. Deep Track Capital LP acquired a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at about $27,493,000. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Ultragenyx Pharmaceutical by 125.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company’s stock valued at $49,375,000 after acquiring an additional 653,088 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RARE. Cantor Fitzgerald restated an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Canaccord Genuity Group lifted their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Wedbush reaffirmed a “neutral” rating and set a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. Finally, HC Wainwright reissued a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.50.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.