Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) CEO Emil D. Kakkis Sells 73,434 Shares

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) CEO Emil D. Kakkis sold 73,434 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $3,091,571.40. Following the completion of the transaction, the chief executive officer now owns 641,731 shares in the company, valued at approximately $27,016,875.10. This trade represents a 10.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Ultragenyx Pharmaceutical Trading Down 3.5 %

NASDAQ:RARE traded down $1.40 during trading hours on Friday, hitting $38.62. The stock had a trading volume of 724,201 shares, compared to its average volume of 782,526. The company has a market cap of $3.57 billion, a PE ratio of -6.09 and a beta of 0.60. The business has a 50 day simple moving average of $42.57 and a two-hundred day simple moving average of $48.72. Ultragenyx Pharmaceutical Inc. has a 1-year low of $37.02 and a 1-year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.32) by ($0.07). The firm had revenue of $164.88 million for the quarter, compared to analysts' expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. Research analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

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Analyst Upgrades and Downgrades

RARE has been the topic of several recent analyst reports. Canaccord Genuity Group increased their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. HC Wainwright reiterated a "buy" rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Wedbush reiterated a "neutral" rating and set a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. JPMorgan Chase & Co. cut their price objective on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an "overweight" rating on the stock in a report on Thursday, November 21st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $93.50.

Institutional Trading of Ultragenyx Pharmaceutical

A number of hedge funds have recently made changes to their positions in RARE. Norges Bank purchased a new stake in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $40,463,000. Alkeon Capital Management LLC raised its stake in shares of Ultragenyx Pharmaceutical by 34.3% during the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company's stock valued at $167,301,000 after purchasing an additional 769,884 shares during the period. Vestal Point Capital LP raised its stake in shares of Ultragenyx Pharmaceutical by 100.0% during the fourth quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company's stock valued at $63,105,000 after purchasing an additional 750,000 shares during the period. Deep Track Capital LP bought a new stake in shares of Ultragenyx Pharmaceutical in the fourth quarter worth $27,493,000. Finally, Pictet Asset Management Holding SA increased its stake in shares of Ultragenyx Pharmaceutical by 125.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company's stock worth $49,375,000 after buying an additional 653,088 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Company Profile

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.