Eversept Partners LP Sells 254,607 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Eversept Partners LP cut its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 80.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,575 shares of the biopharmaceutical company’s stock after selling 254,607 shares during the period. Eversept Partners LP’s holdings in Ultragenyx Pharmaceutical were worth $1,311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 778.4% during the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 1,440 shares in the last quarter. Leonteq Securities AG lifted its holdings in shares of Ultragenyx Pharmaceutical by 288.5% in the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,333 shares in the last quarter. Danske Bank A S bought a new position in shares of Ultragenyx Pharmaceutical in the 3rd quarter worth $39,000. Aster Capital Management DIFC Ltd acquired a new stake in Ultragenyx Pharmaceutical in the 4th quarter valued at $56,000. Finally, Smartleaf Asset Management LLC grew its position in Ultragenyx Pharmaceutical by 43.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 751 shares during the period. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Price Performance

RARE opened at $26.89 on Tuesday. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -4.40 and a beta of 0.31. The firm’s fifty day moving average price is $27.50 and its two-hundred day moving average price is $24.68. Ultragenyx Pharmaceutical Inc. has a 1 year low of $18.29 and a 1 year high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing the consensus estimate of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The firm had revenue of $136.00 million during the quarter, compared to analysts’ expectations of $158.19 million. During the same quarter in the prior year, the company earned ($1.57) EPS. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -4.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RARE. Cantor Fitzgerald raised their price objective on shares of Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Guggenheim lowered their target price on shares of Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Wall Street Zen raised shares of Ultragenyx Pharmaceutical from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Morgan Stanley lifted their price target on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Finally, Wells Fargo & Company boosted their price objective on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.41.

Insider Activity

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 1,899 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.62, for a total transaction of $46,753.38. Following the transaction, the executive vice president owned 94,462 shares of the company’s stock, valued at $2,325,654.44. This trade represents a 1.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shehnaaz Suliman sold 5,740 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $25.12, for a total value of $144,188.80. Following the completion of the transaction, the director owned 27,951 shares in the company, valued at $702,129.12. The trade was a 17.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 19,319 shares of company stock valued at $476,837. 5.20% of the stock is currently owned by company insiders.

Ultragenyx Pharmaceutical Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.