Rock Springs Capital Management LP Sells 48,468 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Rock Springs Capital Management LP lowered its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 3.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,218,773 shares of the biopharmaceutical company’s stock after selling 48,468 shares during the period. Ultragenyx Pharmaceutical comprises about 1.5% of Rock Springs Capital Management LP’s investment portfolio, making the stock its 20th largest position. Rock Springs Capital Management LP’s holdings in Ultragenyx Pharmaceutical were worth $25,533,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of RARE. Assenagon Asset Management S.A. lifted its position in Ultragenyx Pharmaceutical by 1,030.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock valued at $47,298,000 after acquiring an additional 2,057,951 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Ultragenyx Pharmaceutical by 614.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock worth $65,205,000 after purchasing an additional 1,864,164 shares during the period. Norges Bank bought a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $29,004,000. Eagle Health Investments LP purchased a new position in shares of Ultragenyx Pharmaceutical during the first quarter valued at approximately $18,522,000. Finally, Millennium Management LLC boosted its position in shares of Ultragenyx Pharmaceutical by 787.6% in the 4th quarter. Millennium Management LLC now owns 880,644 shares of the biopharmaceutical company’s stock worth $20,255,000 after purchasing an additional 781,431 shares in the last quarter. Institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ:RARE opened at $26.89 on Tuesday. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -4.40 and a beta of 0.31. The business has a 50-day simple moving average of $27.50 and a two-hundred day simple moving average of $24.68. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $18.29 and a fifty-two week high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $136.00 million for the quarter, compared to analysts’ expectations of $158.19 million. During the same period in the previous year, the business earned ($1.57) EPS. The business’s revenue was down 2.2% compared to the same quarter last year. As a group, research analysts predict that Ultragenyx Pharmaceutical Inc. will post -4.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Cantor Fitzgerald lifted their price objective on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Wells Fargo & Company upped their price target on shares of Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 9th. Wall Street Zen raised shares of Ultragenyx Pharmaceutical from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Guggenheim dropped their target price on shares of Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and an average target price of $58.41.

Insider Activity at Ultragenyx Pharmaceutical

In other news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the transaction, the director directly owned 21,095 shares in the company, valued at $528,429.75. This trade represents a 8.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Karah Herdman Parschauer sold 1,899 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the completion of the sale, the executive vice president directly owned 94,462 shares of the company’s stock, valued at $2,325,654.44. The trade was a 1.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 19,319 shares of company stock worth $476,837. Company insiders own 5.20% of the company’s stock.

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.