Insider Selling: Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) CFO Sells 1,785 Shares of Stock

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) CFO Howard Horn sold 1,785 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $40.40, for a total value of $72,114.00. Following the sale, the chief financial officer now owns 106,169 shares in the company, valued at approximately $4,289,227.60. The trade was a 1.65 % 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.

Ultragenyx Pharmaceutical Stock Down 2.9 %

Ultragenyx Pharmaceutical stock opened at $37.50 on Tuesday. The business has a 50-day simple moving average of $42.48 and a 200 day simple moving average of $48.50. Ultragenyx Pharmaceutical Inc. has a 52 week low of $37.02 and a 52 week high of $60.37. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of -5.91 and a beta of 0.67.

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

Wall Street Analysts Forecast Growth

RARE has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Piper Sandler boosted their price objective on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. HC Wainwright reiterated a “buy” rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. JPMorgan Chase & Co. decreased their price objective on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, November 21st. Finally, Wedbush reiterated a “neutral” rating and set a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.50.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of RARE. Principal Financial Group Inc. boosted its holdings in shares of Ultragenyx Pharmaceutical by 740.0% in the 3rd quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after purchasing an additional 76,150 shares in the last quarter. Atria Investments Inc purchased a new position in shares of Ultragenyx Pharmaceutical in the 3rd quarter worth about $269,000. Victory Capital Management Inc. boosted its holdings in shares of Ultragenyx Pharmaceutical by 8.8% in the 3rd quarter. Victory Capital Management Inc. now owns 10,948 shares of the biopharmaceutical company’s stock worth $608,000 after purchasing an additional 884 shares in the last quarter. KBC Group NV boosted its holdings in shares of Ultragenyx Pharmaceutical by 24.5% in the 3rd quarter. KBC Group NV now owns 2,568 shares of the biopharmaceutical company’s stock worth $143,000 after purchasing an additional 506 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 290.0% in the 3rd quarter. Natixis Advisors LLC now owns 52,562 shares of the biopharmaceutical company’s stock worth $2,920,000 after purchasing an additional 39,086 shares in the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

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.