Insider Selling: Ultragenyx Pharmaceutical (NASDAQ:RARE) Director Sells 5,740 Shares of Stock

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Director Shehnaaz Suliman sold 5,740 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $25.12, for a total value of $144,188.80. Following the transaction, the director owned 27,951 shares in the company, valued at approximately $702,129.12. This trade represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ultragenyx Pharmaceutical Trading Down 3.2%

NASDAQ RARE traded down $0.81 during trading on Monday, hitting $24.19. 1,548,682 shares of the company traded hands, compared to its average volume of 2,194,542. Ultragenyx Pharmaceutical Inc. has a 12 month low of $18.29 and a 12 month high of $42.37. The business has a fifty day simple moving average of $23.09 and a 200 day simple moving average of $26.46. The company has a market capitalization of $2.38 billion, a P/E ratio of -3.96 and a beta of 0.39.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results 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). 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 the consensus estimate of $158.19 million. During the same quarter last year, the business earned ($1.57) earnings per share. Ultragenyx Pharmaceutical’s quarterly revenue was down 2.2% on a year-over-year basis. Equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -4.63 EPS for the current fiscal year.

Institutional Trading of Ultragenyx Pharmaceutical

Hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its position 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 last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of 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 buying an additional 1,864,164 shares during the last quarter. Norges Bank bought a new stake in shares of Ultragenyx Pharmaceutical in the fourth quarter valued at about $29,004,000. Eagle Health Investments LP bought a new stake in shares of Ultragenyx Pharmaceutical in the first quarter valued at about $18,522,000. Finally, Millennium Management LLC grew its position in Ultragenyx Pharmaceutical by 787.6% during 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 in the last quarter. 97.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RARE has been the subject of a number of research analyst reports. Wedbush cut their target price on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. JPMorgan Chase & Co. cut their target price on shares of Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an “overweight” rating for the company in a research report on Thursday, March 12th. Wells Fargo & Company lifted their price objective on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Guggenheim dropped their price objective on Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Truist Financial upgraded Ultragenyx Pharmaceutical to a “strong-buy” rating in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $60.41.

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.