Rock Springs Capital Management LP Sells 48,468 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Rock Springs Capital Management LP lowered its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,218,773 shares of the biopharmaceutical company’s stock after selling 48,468 shares during the period. Ultragenyx Pharmaceutical makes up approximately 1.5% of Rock Springs Capital Management LP’s holdings, making the stock its 20th largest holding. Rock Springs Capital Management LP owned about 1.24% of Ultragenyx Pharmaceutical worth $25,533,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of RARE. Parallel Advisors LLC grew its position in Ultragenyx Pharmaceutical by 778.4% during the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 1,440 shares during the last quarter. Leonteq Securities AG lifted its position in Ultragenyx Pharmaceutical by 288.5% in the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,333 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Ultragenyx Pharmaceutical during the third quarter valued at approximately $39,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $56,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 43.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 751 shares during the last quarter. Institutional investors own 97.67% of the company’s stock.

Insider Activity at Ultragenyx Pharmaceutical

In related news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $25.05, for a total value of $50,100.00. Following the completion of the transaction, the director directly owned 21,095 shares of the company’s stock, valued at $528,429.75. This represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Horn sold 4,653 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $23.77, for a total value of $110,601.81. Following the sale, the chief financial officer directly owned 105,689 shares in the company, valued at approximately $2,512,227.53. The trade was a 4.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 19,319 shares of company stock worth $476,837. 5.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RARE has been the topic of several analyst reports. Wedbush decreased their target price on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Royal Bank Of Canada raised their price target on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Cantor Fitzgerald boosted their price objective on shares of Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Wells Fargo & Company upped their price objective on shares of Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $58.41.

Ultragenyx Pharmaceutical Stock Down 0.0%

Shares of RARE stock opened at $26.89 on Tuesday. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -4.40 and a beta of 0.31. The stock has a fifty day moving average of $27.50 and a 200 day moving average of $24.68. Ultragenyx Pharmaceutical Inc. has a 52 week low of $18.29 and a 52 week high of $39.89.

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

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.