Insider Selling: Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) EVP Sells 2,990 Shares of Stock

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) EVP Karah Herdman Parschauer sold 2,990 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $42.88, for a total value of $128,211.20. Following the transaction, the executive vice president now directly owns 54,991 shares in the company, valued at approximately $2,358,014.08. The trade was a 5.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE traded down $1.55 on Monday, reaching $41.38. The stock had a trading volume of 419,471 shares, compared to its average volume of 854,949. Ultragenyx Pharmaceutical Inc. has a 12-month low of $37.02 and a 12-month high of $60.37. The company has a market cap of $3.83 billion, a price-to-earnings ratio of -6.52 and a beta of 0.60. The firm’s fifty day moving average is $42.91 and its two-hundred day moving average is $49.10.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by ($0.07). The firm had revenue of $164.88 million for the quarter, compared to analysts’ expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. As a group, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RARE has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Piper Sandler increased their price target on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.50.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently made changes to their positions in RARE. Norges Bank acquired a new stake in Ultragenyx Pharmaceutical in the 4th quarter worth about $40,463,000. Alkeon Capital Management LLC boosted its position in shares of Ultragenyx Pharmaceutical by 34.3% in the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after acquiring an additional 769,884 shares during the last quarter. Vestal Point Capital LP grew its holdings in Ultragenyx Pharmaceutical by 100.0% in the fourth quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $63,105,000 after purchasing an additional 750,000 shares during the period. Deep Track Capital LP acquired a new position in Ultragenyx Pharmaceutical during the fourth quarter worth approximately $27,493,000. Finally, Pictet Asset Management Holding SA increased its position in Ultragenyx Pharmaceutical by 125.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company’s stock worth $49,375,000 after purchasing an additional 653,088 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

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.