Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Down 5.7% - Should You Sell?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report)'s stock price dropped 5.7% during mid-day trading on Tuesday . The stock traded as low as $40.63 and last traded at $40.69. Approximately 339,335 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 1,250,216 shares. The stock had previously closed at $43.16.

Analysts Set New Price Targets

RARE has been the subject of a number of research reports. Wedbush reissued a "neutral" rating and issued a $48.00 price objective (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday. Royal Bank of Canada restated an "outperform" rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Piper Sandler raised their price objective on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Monday. HC Wainwright reissued a "buy" rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, December 24th. Finally, Wells Fargo & Company lifted their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of "Moderate Buy" and an average price target of $92.29.

Ultragenyx Pharmaceutical Stock Down 0.3 %

The firm's 50-day moving average price is $45.30 and its 200-day moving average price is $49.52. The company has a market cap of $3.77 billion, a P/E ratio of -6.31 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.45) by $0.05. The firm had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The business's quarterly revenue was up 42.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.23) earnings per share. As a group, analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.21 earnings per share for the current year.

Insider Activity

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $42.23, for a total value of $495,231.21. Following the sale, the chief executive officer now directly owns 2,183,985 shares in the company, valued at $92,229,686.55. This represents a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its position in shares of Ultragenyx Pharmaceutical by 38.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 370,247 shares of the biopharmaceutical company's stock valued at $15,217,000 after buying an additional 103,280 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Ultragenyx Pharmaceutical by 13.4% in the 2nd quarter. Amalgamated Bank now owns 5,896 shares of the biopharmaceutical company's stock worth $242,000 after purchasing an additional 696 shares in the last quarter. Sei Investments Co. increased its position in shares of Ultragenyx Pharmaceutical by 39.1% during the 2nd quarter. Sei Investments Co. now owns 91,799 shares of the biopharmaceutical company's stock valued at $3,773,000 after purchasing an additional 25,803 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Ultragenyx Pharmaceutical by 83.4% during the 2nd quarter. ProShare Advisors LLC now owns 11,142 shares of the biopharmaceutical company's stock valued at $458,000 after purchasing an additional 5,068 shares during the last quarter. Finally, Xponance Inc. raised its holdings in shares of Ultragenyx Pharmaceutical by 13.0% during the 2nd quarter. Xponance Inc. now owns 11,091 shares of the biopharmaceutical company's stock valued at $456,000 after buying an additional 1,279 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors.

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.

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