Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Insider John Richard Pinion Sells 14,439 Shares

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) insider John Richard Pinion sold 14,439 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $607,881.90. Following the transaction, the insider now owns 107,766 shares in the company, valued at $4,536,948.60. The trade was a 11.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Ultragenyx Pharmaceutical Trading Down 3.5 %

Ultragenyx Pharmaceutical stock traded down $1.40 on Friday, hitting $38.62. 724,201 shares of the stock traded hands, compared to its average volume of 782,526. The firm has a market cap of $3.57 billion, a P/E ratio of -6.09 and a beta of 0.60. The business's fifty day simple moving average is $42.57 and its 200 day simple moving average is $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 announced its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing the consensus estimate 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%. As a group, analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

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Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RARE shares. Canaccord Genuity Group raised their target price 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. Wedbush restated a "neutral" rating and issued a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. JPMorgan Chase & Co. cut their target price 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. Piper Sandler raised their target price on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $93.50.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently added to or reduced their stakes in RARE. Norges Bank purchased a new position in Ultragenyx Pharmaceutical during the fourth quarter valued at $40,463,000. Alkeon Capital Management LLC lifted its position in 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 buying an additional 769,884 shares during the period. Vestal Point Capital LP raised its position in shares of Ultragenyx Pharmaceutical by 100.0% in the 4th quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company's stock worth $63,105,000 after purchasing an additional 750,000 shares during the last quarter. Deep Track Capital LP purchased a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter worth about $27,493,000. Finally, Pictet Asset Management Holding SA raised its position in shares of Ultragenyx Pharmaceutical by 125.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company's stock worth $49,375,000 after purchasing an additional 653,088 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company's stock.

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.