Pier 88 Investment Partners LLC Sells 7,640 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Pier 88 Investment Partners LLC cut its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 34.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,730 shares of the biopharmaceutical company’s stock after selling 7,640 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Ultragenyx Pharmaceutical were worth $536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC lifted its holdings in Ultragenyx Pharmaceutical by 1,061.9% in the 2nd quarter. Parallel Advisors LLC now owns 732 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 669 shares during the period. GAMMA Investing LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 76.2% during the first quarter. GAMMA Investing LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 323 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new position in shares of Ultragenyx Pharmaceutical during the first quarter valued at approximately $57,000. Headlands Technologies LLC purchased a new stake in Ultragenyx Pharmaceutical in the first quarter worth $59,000. Finally, Covestor Ltd boosted its holdings in Ultragenyx Pharmaceutical by 86.8% in the first quarter. Covestor Ltd now owns 1,711 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 795 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. TD Cowen decreased their price objective on shares of Ultragenyx Pharmaceutical from $86.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, October 8th. Morgan Stanley reduced their target price on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, July 14th. Truist Financial lowered their target price on Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company began coverage on Ultragenyx Pharmaceutical in a research report on Monday, October 20th. They set an “overweight” rating and a $65.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and an average price target of $82.75.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 2,450 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $31.17, for a total transaction of $76,366.50. Following the completion of the sale, the executive vice president directly owned 73,271 shares in the company, valued at approximately $2,283,857.07. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Howard Horn sold 7,942 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $31.51, for a total transaction of $250,252.42. Following the completion of the transaction, the chief financial officer directly owned 98,227 shares of the company’s stock, valued at $3,095,132.77. This trade represents a 7.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 10,456 shares of company stock valued at $328,486. 5.50% of the stock is owned by company insiders.

Ultragenyx Pharmaceutical Trading Down 1.0%

Shares of NASDAQ:RARE opened at $30.63 on Friday. The stock has a fifty day simple moving average of $31.47 and a two-hundred day simple moving average of $32.83. Ultragenyx Pharmaceutical Inc. has a 12-month low of $25.81 and a 12-month high of $53.04. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of -5.54 and a beta of 0.30.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.58). The company had revenue of $159.93 million for the quarter, compared to the consensus estimate of $167.42 million. Ultragenyx Pharmaceutical had a negative net margin of 87.34% and a negative return on equity of 237.48%. Ultragenyx Pharmaceutical’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.40) earnings per share. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Ultragenyx Pharmaceutical Company Profile

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.