Insider Selling: Ultragenyx Pharmaceutical (NASDAQ:RARE) Director Sells 2,000 Shares of Stock

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Director Corazon (Corsee) Sanders sold 2,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $25.05, for a total value of $50,100.00. Following the sale, the director directly owned 21,095 shares in the company, valued at $528,429.75. This trade represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ultragenyx Pharmaceutical Price Performance

NASDAQ RARE traded up $1.03 during trading hours on Monday, hitting $25.38. The company’s stock had a trading volume of 1,479,218 shares, compared to its average volume of 2,092,176. Ultragenyx Pharmaceutical Inc. has a 12 month low of $18.29 and a 12 month high of $42.37. The company’s 50 day simple moving average is $23.99 and its two-hundred day simple moving average is $25.08. The company has a market cap of $2.50 billion, a P/E ratio of -4.15 and a beta of 0.37.

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

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its holdings in Ultragenyx Pharmaceutical by 1,030.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock worth $47,298,000 after purchasing an additional 2,057,951 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Ultragenyx Pharmaceutical by 614.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock valued at $65,205,000 after purchasing an additional 1,864,164 shares during the period. Norges Bank purchased a new stake in Ultragenyx Pharmaceutical in the fourth quarter worth about $29,004,000. Eagle Health Investments LP purchased a new stake in Ultragenyx Pharmaceutical in the first quarter worth about $18,522,000. Finally, Millennium Management LLC raised its stake in shares of Ultragenyx Pharmaceutical by 787.6% in the fourth quarter. Millennium Management LLC now owns 880,644 shares of the biopharmaceutical company’s stock worth $20,255,000 after buying an additional 781,431 shares during the period. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wedbush dropped their price target on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. JPMorgan Chase & Co. reduced their price objective on Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an “overweight” rating for the company in a research report on Thursday, March 12th. Canaccord Genuity Group lowered their target price on Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Barclays dropped their target price on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Finally, The Goldman Sachs Group cut shares of Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $61.00 to $25.00 in a research note on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $59.56.

About Ultragenyx Pharmaceutical

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.