Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Down 6.5% Following Insider Selling

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) shares fell 6.5% on Tuesday after an insider sold shares in the company. The company traded as low as $22.65 and last traded at $22.6270. 837,769 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 2,179,816 shares. The stock had previously closed at $24.19.

Specifically, Director Shehnaaz Suliman sold 5,740 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $25.12, for a total transaction of $144,188.80. Following the completion of the sale, the director directly owned 27,951 shares in the company, valued at $702,129.12. This represents a 17.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RARE. Wedbush dropped 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. Guggenheim dropped their price objective on Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a “buy” rating for the company in a report on Friday, May 8th. JPMorgan Chase & Co. dropped 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. Barclays dropped their price objective on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group downgraded Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and lowered their price target for the company from $61.00 to $25.00 in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.41.

Ultragenyx Pharmaceutical Trading Down 6.6%

The business’s 50-day simple moving average is $23.14 and its two-hundred day simple moving average is $26.38. The company has a market capitalization of $2.23 billion, a PE ratio of -3.70 and a beta of 0.39.

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 analysts’ consensus estimates of ($1.49) by ($0.35). The firm had revenue of $136.00 million during the quarter, compared to analysts’ expectations of $158.19 million. Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company earned ($1.57) earnings per share. On average, analysts forecast that Ultragenyx Pharmaceutical Inc. will post -4.63 EPS for the current year.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RARE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Ultragenyx Pharmaceutical by 14.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 232,360 shares of the biopharmaceutical company’s stock valued at $8,414,000 after buying an additional 29,984 shares during the last quarter. Creative Planning purchased a new position in Ultragenyx Pharmaceutical in the 2nd quarter valued at about $454,000. American Century Companies Inc. purchased a new position in Ultragenyx Pharmaceutical in the 2nd quarter valued at about $366,000. M&T Bank Corp boosted its position in Ultragenyx Pharmaceutical by 19.7% in the 2nd quarter. M&T Bank Corp now owns 7,232 shares of the biopharmaceutical company’s stock valued at $263,000 after buying an additional 1,192 shares during the last quarter. Finally, Amundi lifted its position in shares of Ultragenyx Pharmaceutical by 1,560.4% during the second quarter. Amundi now owns 99,161 shares of the biopharmaceutical company’s stock worth $3,913,000 after purchasing an additional 93,189 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Company 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.