Ultragenyx Pharmaceutical (NASDAQ:RARE) Hits New 52-Week Low – Here’s What Happened

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $30.46 and last traded at $31.97, with a volume of 206071 shares trading hands. The stock had previously closed at $32.43.

Analysts Set New Price Targets

Several analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Cantor Fitzgerald restated an “overweight” rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Wedbush reiterated a “neutral” rating and set a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Piper Sandler dropped their price objective on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, March 17th. Finally, Canaccord Genuity Group raised their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.79.

Ultragenyx Pharmaceutical Price Performance

The company has a market capitalization of $3.18 billion, a P/E ratio of -5.35 and a beta of 0.61. The firm has a fifty day moving average price of $40.16 and a 200-day moving average price of $45.45.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly 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). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The company had revenue of $164.88 million during the quarter, compared to the consensus estimate of $163.23 million. On average, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Insider Buying and Selling

In related news, CAO Theodore Alan Huizenga sold 967 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $40,710.70. Following the sale, the chief accounting officer now owns 50,265 shares in the company, valued at $2,116,156.50. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Richard Pinion sold 14,439 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $607,881.90. Following the transaction, the insider now owns 107,766 shares in the company, valued at $4,536,948.60. This trade represents a 11.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,643 shares of company stock worth $5,256,268. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Captrust Financial Advisors raised its holdings in Ultragenyx Pharmaceutical by 129.3% in the 3rd quarter. Captrust Financial Advisors now owns 11,428 shares of the biopharmaceutical company’s stock worth $635,000 after acquiring an additional 6,445 shares during the last quarter. Benjamin Edwards Inc. purchased a new position in shares of Ultragenyx Pharmaceutical in the third quarter worth $338,000. XTX Topco Ltd grew its position in shares of Ultragenyx Pharmaceutical by 95.2% during the third quarter. XTX Topco Ltd now owns 14,629 shares of the biopharmaceutical company’s stock valued at $813,000 after purchasing an additional 7,134 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in Ultragenyx Pharmaceutical by 193.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 19,151 shares of the biopharmaceutical company’s stock worth $1,064,000 after acquiring an additional 12,617 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. purchased a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $93,000. 97.67% of the stock is owned by hedge funds and other institutional investors.

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.