Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Sees Significant Decline in Short Interest

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) saw a significant decrease in short interest in September. As of September 30th, there was short interest totalling 2,890,000 shares, a decrease of 19.9% from the September 15th total of 3,610,000 shares. Based on an average daily trading volume, of 705,100 shares, the short-interest ratio is currently 4.1 days.

Ultragenyx Pharmaceutical Trading Up 1.7 %

NASDAQ:RARE traded up $0.93 during trading hours on Tuesday, hitting $57.12. 555,325 shares of the company traded hands, compared to its average volume of 778,610. The firm has a 50-day moving average of $55.20 and a 200 day moving average of $47.29. Ultragenyx Pharmaceutical has a twelve month low of $31.52 and a twelve month high of $60.37. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of -7.05 and a beta of 0.57.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) EPS for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.12. The business had revenue of $147.03 million during the quarter, compared to analyst estimates of $123.20 million. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. Ultragenyx Pharmaceutical’s revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the company posted ($2.25) earnings per share. Equities research analysts predict that Ultragenyx Pharmaceutical will post -6.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the sale, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now directly owns 92,301 shares in the company, valued at approximately $4,869,800.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the sale, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,556 shares of company stock valued at $2,519,367. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Ultragenyx Pharmaceutical by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock worth $414,764,000 after buying an additional 1,440,264 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Ultragenyx Pharmaceutical by 622.3% during the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 865 shares in the last quarter. Woodstock Corp lifted its holdings in Ultragenyx Pharmaceutical by 38.0% during the 1st quarter. Woodstock Corp now owns 11,124 shares of the biopharmaceutical company’s stock valued at $519,000 after purchasing an additional 3,064 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Ultragenyx Pharmaceutical by 40.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 49,537 shares of the biopharmaceutical company’s stock valued at $2,313,000 after purchasing an additional 14,159 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Ultragenyx Pharmaceutical by 67.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 1,339 shares in the last quarter. Institutional investors own 97.67% of the company’s stock.

Wall Street Analyst Weigh In

RARE has been the subject of several research reports. Wedbush lifted their price target on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Canaccord Genuity Group restated a “buy” rating and set a $111.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. Barclays decreased their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Wells Fargo & Company raised their target price on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group upped their price target on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and an average target price of $87.43.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.