Sofinnova Investments Inc. Makes New $1.92 Million Investment in Ultragenyx Pharmaceutical Inc. $RARE

Sofinnova Investments Inc. purchased a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 83,300 shares of the biopharmaceutical company’s stock, valued at approximately $1,916,000.

Other large investors have also recently bought and sold shares of the company. Assetmark Inc. boosted its position in Ultragenyx Pharmaceutical by 1,706.7% during the 3rd quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 1,024 shares during the last quarter. Huntington National Bank boosted its position in Ultragenyx Pharmaceutical by 56.2% during the 3rd quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 393 shares during the last quarter. Danske Bank A S acquired a new position in Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $39,000. Smartleaf Asset Management LLC boosted its position in Ultragenyx Pharmaceutical by 205.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,738 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 1,169 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in Ultragenyx Pharmaceutical during the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 4,683 shares of Ultragenyx Pharmaceutical stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $24.90, for a total value of $116,606.70. Following the transaction, the chief financial officer owned 110,342 shares in the company, valued at $2,747,515.80. The trade was a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Karah Herdman Parschauer sold 1,899 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.62, for a total value of $46,753.38. Following the completion of the transaction, the executive vice president owned 94,462 shares in the company, valued at approximately $2,325,654.44. This represents a 1.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,002 shares of company stock worth $575,039 over the last three months. Company insiders own 5.20% of the company’s stock.

Ultragenyx Pharmaceutical Trading Up 4.2%

RARE opened at $25.38 on Tuesday. Ultragenyx Pharmaceutical Inc. has a 1-year low of $18.29 and a 1-year high of $42.37. The stock’s fifty day simple moving average is $24.04 and its 200 day simple moving average is $25.02. The stock has a market cap of $2.50 billion, a PE ratio of -4.15 and a beta of 0.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share for the quarter, missing the consensus estimate of ($1.49) by ($0.35). The firm had revenue of $136.00 million for the quarter, compared to the consensus estimate of $158.19 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.57) EPS. Equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -4.53 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Truist Financial raised Ultragenyx Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th. Wedbush cut their price objective on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. JPMorgan Chase & Co. cut their price objective on Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. HC Wainwright cut their price objective on Ultragenyx Pharmaceutical from $60.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Finally, The Goldman Sachs Group downgraded Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and cut their price objective for the company from $61.00 to $25.00 in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $59.56.

About Ultragenyx Pharmaceutical

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.