Ultragenyx Pharmaceutical Inc. $RARE Shares Sold by Sands Capital Management LLC

Sands Capital Management LLC reduced its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 5.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,943,485 shares of the biopharmaceutical company’s stock after selling 220,076 shares during the quarter. Sands Capital Management LLC owned approximately 4.09% of Ultragenyx Pharmaceutical worth $143,385,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Oak Ridge Investments LLC raised its stake in Ultragenyx Pharmaceutical by 2.3% during the first quarter. Oak Ridge Investments LLC now owns 17,757 shares of the biopharmaceutical company’s stock worth $643,000 after acquiring an additional 395 shares during the period. Teacher Retirement System of Texas raised its position in shares of Ultragenyx Pharmaceutical by 1.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 22,773 shares of the biopharmaceutical company’s stock worth $828,000 after purchasing an additional 404 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ultragenyx Pharmaceutical by 7.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,783 shares of the biopharmaceutical company’s stock worth $247,000 after purchasing an additional 441 shares during the period. DNB Asset Management AS lifted its holdings in shares of Ultragenyx Pharmaceutical by 3.2% in the 2nd quarter. DNB Asset Management AS now owns 14,720 shares of the biopharmaceutical company’s stock worth $535,000 after purchasing an additional 452 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in Ultragenyx Pharmaceutical by 0.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 93,909 shares of the biopharmaceutical company’s stock valued at $3,415,000 after purchasing an additional 470 shares during the period. 97.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Truist Financial reduced their price target on shares of Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. TD Cowen reduced their target price on shares of Ultragenyx Pharmaceutical from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, September 9th. Finally, Wells Fargo & Company initiated coverage on Ultragenyx Pharmaceutical in a research report on Monday, October 20th. They issued an “overweight” rating and a $65.00 target price on the stock. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.23.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE opened at $33.47 on Wednesday. The stock’s 50 day moving average price is $32.41 and its 200 day moving average price is $32.36. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -6.05 and a beta of 0.30. Ultragenyx Pharmaceutical Inc. has a 12 month low of $25.81 and a 12 month high of $50.00.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.58). The firm had revenue of $159.93 million for the quarter, compared to analyst estimates of $167.42 million. Ultragenyx Pharmaceutical had a negative net margin of 87.34% and a negative return on equity of 237.48%. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter last year, the business posted ($1.40) earnings per share. On average, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 7,942 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $31.51, for a total value of $250,252.42. Following the sale, the chief financial officer directly owned 98,227 shares in the company, valued at $3,095,132.77. The trade was a 7.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Karah Herdman Parschauer sold 2,450 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $31.17, for a total transaction of $76,366.50. Following the sale, the executive vice president owned 73,271 shares of the company’s stock, valued at $2,283,857.07. The trade was a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 10,456 shares of company stock valued at $328,486 over the last three months. 5.50% of the stock is owned by corporate insiders.

About Ultragenyx Pharmaceutical

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.