Insider Selling: Ultragenyx Pharmaceutical (NASDAQ:RARE) CFO Sells 7,066 Shares of Stock

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) CFO Howard Horn sold 7,066 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $15.27, for a total transaction of $107,897.82. Following the completion of the transaction, the chief financial officer owned 89,229 shares in the company, valued at $1,362,526.83. This represents a 7.34% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ultragenyx Pharmaceutical Stock Up 3.1%

RARE traded up $0.46 on Monday, reaching $14.99. The company had a trading volume of 1,747,943 shares, compared to its average volume of 2,829,345. The stock has a 50-day moving average price of $18.82 and a 200-day moving average price of $23.59. The stock has a market capitalization of $1.48 billion, a PE ratio of -2.57 and a beta of 0.35. Ultragenyx Pharmaceutical Inc. has a 1 year low of $12.73 and a 1 year high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. The firm had revenue of $214.00 million during the quarter, compared to analysts’ expectations of $183.08 million. During the same quarter in the prior year, the firm posted ($1.17) EPS. Ultragenyx Pharmaceutical’s quarterly revenue was up 28.5% compared to the same quarter last year. As a group, analysts expect that Ultragenyx Pharmaceutical Inc. will post -3.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America cut shares of Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating in a research note on Thursday, September 3rd. Citigroup lifted their target price on shares of Ultragenyx Pharmaceutical from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, October 6th. Evercore downgraded Ultragenyx Pharmaceutical from an “outperform” rating to an “in-line” rating and set a $16.00 price objective for the company. in a research report on Thursday, September 3rd. Finally, Robert W. Baird downgraded Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $40.00 to $16.00 in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $33.65.

Institutional Trading of Ultragenyx Pharmaceutical

Institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Ultragenyx Pharmaceutical during the second quarter valued at $355,746,000. Assenagon Asset Management S.A. increased its stake in shares of Ultragenyx Pharmaceutical by 1,030.4% in the first quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock worth $47,298,000 after acquiring an additional 2,057,951 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth about $38,347,000. Candriam S.C.A. raised its position in Ultragenyx Pharmaceutical by 37.1% during the first quarter. Candriam S.C.A. now owns 1,096,182 shares of the biopharmaceutical company’s stock valued at $22,965,000 after acquiring an additional 296,798 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Ultragenyx Pharmaceutical during the second quarter valued at approximately $31,040,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic diseases. The company targets conditions with limited or no treatment options, including metabolic disorders, skeletal diseases and other inherited conditions. Its work includes the development of medicines, biologic therapies and gene therapy candidates intended to address the underlying causes or significant symptoms of these disorders.

Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Dojolvi (triheptanoin), a medical food used to manage long-chain fatty acid oxidation disorders; and Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII.