Pictet Asset Management Holding SA Sells 627,760 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Pictet Asset Management Holding SA trimmed its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 51.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 603,571 shares of the biopharmaceutical company’s stock after selling 627,760 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ultragenyx Pharmaceutical were worth $11,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. OP Asset Management Ltd purchased a new stake in Ultragenyx Pharmaceutical in the first quarter worth about $1,821,000. Assenagon Asset Management S.A. increased 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 buying an additional 2,057,951 shares in the last quarter. SG Americas Securities LLC increased its position in Ultragenyx Pharmaceutical by 25.4% during the 1st quarter. SG Americas Securities LLC now owns 40,387 shares of the biopharmaceutical company’s stock valued at $846,000 after buying an additional 8,183 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Ultragenyx Pharmaceutical by 611.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,716 shares of the biopharmaceutical company’s stock valued at $177,000 after buying an additional 6,632 shares during the last quarter. Finally, Flax Pond Capital LLC bought a new stake in Ultragenyx Pharmaceutical in the fourth quarter worth $1,293,000. 97.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on RARE. Barclays cut their target price on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Weiss Ratings lowered Ultragenyx Pharmaceutical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 24th. Guggenheim dropped their price target 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. Morgan Stanley increased their price objective on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Finally, Truist Financial upgraded shares of Ultragenyx Pharmaceutical to a “strong-buy” rating in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $59.56.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 1,899 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president owned 94,462 shares of the company’s stock, valued at approximately $2,325,654.44. The trade was a 1.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shehnaaz Suliman sold 5,740 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $25.12, for a total transaction of $144,188.80. Following the transaction, the director owned 27,951 shares in the company, valued at $702,129.12. This represents a 17.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,319 shares of company stock worth $476,837 in the last 90 days. Corporate insiders own 5.20% of the company’s stock.

Ultragenyx Pharmaceutical Trading Up 3.4%

Shares of RARE opened at $33.47 on Friday. The company has a market cap of $3.30 billion, a price-to-earnings ratio of -5.48 and a beta of 0.31. The business’s fifty day simple moving average is $25.50 and its two-hundred day simple moving average is $24.49. Ultragenyx Pharmaceutical Inc. has a 12 month low of $18.29 and a 12 month high of $42.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly 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 return on equity of 1,024.42% and a negative net margin of 91.03%.The business had revenue of $136.00 million during the quarter, compared to analysts’ expectations of $158.19 million. During the same quarter in the prior year, the firm earned ($1.57) EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -4.53 EPS for the current year.

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.