Vanguard Group Inc. Sells 80,694 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Vanguard Group Inc. trimmed its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,132,728 shares of the biopharmaceutical company’s stock after selling 80,694 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Ultragenyx Pharmaceutical worth $304,792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RARE. Assetmark Inc. grew its holdings in Ultragenyx Pharmaceutical by 1,706.7% during the 3rd quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 1,024 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at approximately $55,000. Smartleaf Asset Management LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 205.4% in the third quarter. Smartleaf Asset Management LLC now owns 1,738 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 1,169 shares in the last quarter. Covestor Ltd increased its position in Ultragenyx Pharmaceutical by 26.0% in the third quarter. Covestor Ltd now owns 1,787 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 369 shares during the last quarter. Finally, CWM LLC raised its stake in Ultragenyx Pharmaceutical by 1,171.2% during the second quarter. CWM LLC now owns 4,144 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 3,818 shares in the last quarter. 97.67% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Howard Horn sold 3,081 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $36.38, for a total value of $112,086.78. Following the transaction, the chief financial officer owned 95,146 shares in the company, valued at approximately $3,461,411.48. This represents a 3.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 6,227 shares of company stock valued at $187,126 in the last three months. Company insiders own 5.50% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ:RARE opened at $23.39 on Friday. The stock has a market capitalization of $2.26 billion, a P/E ratio of -4.01 and a beta of 0.16. The company’s 50-day simple moving average is $24.29 and its 200-day simple moving average is $29.33. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $18.41 and a fifty-two week high of $43.22.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, February 12th. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($0.09). Ultragenyx Pharmaceutical had a negative net margin of 85.54% and a negative return on equity of 1,024.42%. The firm had revenue of $207.28 million during the quarter, compared to analyst estimates of $199.60 million. Ultragenyx Pharmaceutical’s revenue was up 25.5% on a year-over-year basis. During the same quarter last year, the business earned ($1.39) earnings per share. On average, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Wall Street Analyst Weigh In

RARE has been the topic of a number of research reports. Jefferies Financial Group reduced their target price on shares of Ultragenyx Pharmaceutical from $114.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, December 30th. Guggenheim cut their price target on shares of Ultragenyx Pharmaceutical from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Wedbush restated a “neutral” rating and set a $25.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, February 17th. Bank of America cut their price target on shares of Ultragenyx Pharmaceutical from $72.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, January 2nd. Finally, Robert W. Baird lowered their price target on Ultragenyx Pharmaceutical from $72.00 to $47.00 and set an “outperform” rating for the company in a report on Tuesday, December 30th. Sixteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.29.

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.