Insider Selling: Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) CEO Sells 11,727 Shares of Stock

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) CEO Emil D. Kakkis sold 11,727 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $42.23, for a total transaction of $495,231.21. Following the transaction, the chief executive officer now owns 2,183,985 shares of the company’s stock, valued at approximately $92,229,686.55. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE traded down $0.20 during mid-day trading on Tuesday, reaching $42.07. 671,675 shares of the company were exchanged, compared to its average volume of 777,563. Ultragenyx Pharmaceutical Inc. has a 1 year low of $37.02 and a 1 year high of $60.37. The firm’s 50-day simple moving average is $47.98 and its 200 day simple moving average is $49.41. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of -6.50 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The business had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. During the same period in the previous year, the firm posted ($2.23) earnings per share. The company’s revenue was up 42.3% on a year-over-year basis. On average, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current fiscal year.

Institutional Trading of Ultragenyx Pharmaceutical

Several hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. increased its position in shares of Ultragenyx Pharmaceutical by 740.0% during the third quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after acquiring an additional 76,150 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Ultragenyx Pharmaceutical during the 3rd quarter worth about $83,000. Geode Capital Management LLC raised its position in Ultragenyx Pharmaceutical by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock valued at $87,296,000 after purchasing an additional 65,623 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Ultragenyx Pharmaceutical by 8.1% in the 3rd quarter. M&T Bank Corp now owns 6,992 shares of the biopharmaceutical company’s stock valued at $388,000 after buying an additional 525 shares during the period. Finally, Frazier Life Sciences Management L.P. boosted its stake in shares of Ultragenyx Pharmaceutical by 49.1% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 633,715 shares of the biopharmaceutical company’s stock valued at $35,203,000 after buying an additional 208,715 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RARE shares. TD Cowen raised their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. JPMorgan Chase & Co. reduced their target price on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, November 21st. HC Wainwright restated a “buy” rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, December 24th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $88.46.

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.