Sands Capital Management LLC Trims Stake in Ultragenyx Pharmaceutical Inc. $RARE

Sands Capital Management LLC cut its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,769,853 shares of the biopharmaceutical company’s stock after selling 173,632 shares during the period. Sands Capital Management LLC’s holdings in Ultragenyx Pharmaceutical were worth $113,397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RARE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Ultragenyx Pharmaceutical by 14.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 232,360 shares of the biopharmaceutical company’s stock worth $8,414,000 after purchasing an additional 29,984 shares during the period. Envestnet Asset Management Inc. grew its holdings in Ultragenyx Pharmaceutical by 6.0% during the second quarter. Envestnet Asset Management Inc. now owns 29,956 shares of the biopharmaceutical company’s stock valued at $1,089,000 after purchasing an additional 1,698 shares during the period. Fox Run Management L.L.C. bought a new stake in Ultragenyx Pharmaceutical during the second quarter valued at about $607,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Ultragenyx Pharmaceutical by 7.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,783 shares of the biopharmaceutical company’s stock worth $247,000 after buying an additional 441 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Ultragenyx Pharmaceutical in the second quarter worth about $309,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Insider Activity

In related news, EVP Erik Harris sold 10,539 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $22.80, for a total transaction of $240,289.20. Following the completion of the transaction, the executive vice president owned 89,515 shares in the company, valued at approximately $2,040,942. This represents a 10.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Howard Horn sold 8,409 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $22.70, for a total transaction of $190,884.30. Following the transaction, the chief financial officer directly owned 86,669 shares of the company’s stock, valued at $1,967,386.30. The trade was a 8.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 104,958 shares of company stock valued at $2,394,858 in the last quarter. Company insiders own 5.50% of the company’s stock.

Ultragenyx Pharmaceutical Trading Up 1.0%

NASDAQ:RARE opened at $22.84 on Wednesday. The stock has a 50-day moving average price of $23.10 and a 200 day moving average price of $28.98. The stock has a market capitalization of $2.21 billion, a P/E ratio of -3.91 and a beta of 0.16. Ultragenyx Pharmaceutical Inc. has a 12-month low of $18.41 and a 12-month high of $42.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, February 12th. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($0.09). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 85.54%.The business had revenue of $207.28 million during the quarter, compared to the consensus estimate of $199.60 million. During the same quarter in the previous year, the company earned ($1.39) earnings per share. The company’s revenue for the quarter was up 25.5% compared to the same quarter last year. On average, research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RARE. Barclays lowered their price objective on Ultragenyx Pharmaceutical from $81.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Wells Fargo & Company reduced their target price on shares of Ultragenyx Pharmaceutical from $65.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, December 30th. Wedbush restated a “neutral” rating and set a $25.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, February 17th. Jefferies Financial Group dropped their price target on shares of Ultragenyx Pharmaceutical from $114.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday, December 30th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, January 21st. Sixteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.29.

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.