Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) EVP Thomas Richard Kassberg Sells 6,028 Shares

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) EVP Thomas Richard Kassberg sold 6,028 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $253,778.80. Following the completion of the sale, the executive vice president now owns 265,238 shares in the company, valued at $11,166,519.80. This represents a 2.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock opened at $40.87 on Thursday. The company has a market capitalization of $3.78 billion, a P/E ratio of -6.45 and a beta of 0.60. The company’s 50-day simple moving average is $42.80 and its two-hundred day simple moving average is $48.94. Ultragenyx Pharmaceutical Inc. has a one year low of $37.02 and a one year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The company had revenue of $164.88 million during the quarter, compared to the consensus estimate of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. On average, research analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Ultragenyx Pharmaceutical by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company’s stock worth $422,167,000 after purchasing an additional 89,389 shares during the period. Alkeon Capital Management LLC lifted its position in shares of Ultragenyx Pharmaceutical by 34.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after purchasing an additional 769,884 shares during the period. Invesco Ltd. lifted its position in shares of Ultragenyx Pharmaceutical by 1.5% in the 4th quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company’s stock worth $71,509,000 after purchasing an additional 25,487 shares during the period. Alliancebernstein L.P. lifted its position in shares of Ultragenyx Pharmaceutical by 5.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company’s stock worth $68,487,000 after purchasing an additional 81,667 shares during the period. Finally, Baker BROS. Advisors LP lifted its position in shares of Ultragenyx Pharmaceutical by 7.5% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company’s stock worth $87,553,000 after purchasing an additional 109,567 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. 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 report on Monday, January 13th. HC Wainwright restated a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Finally, Wedbush restated 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 company’s stock. According to data from MarketBeat, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and an average price target of $93.50.

About Ultragenyx Pharmaceutical

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.