Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Stake Cut by Point72 DIFC Ltd

Point72 DIFC Ltd trimmed its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 73.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,669 shares of the biopharmaceutical company’s stock after selling 7,383 shares during the period. Point72 DIFC Ltd’s holdings in Ultragenyx Pharmaceutical were worth $110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of RARE. Headlands Technologies LLC acquired a new position in shares of Ultragenyx Pharmaceutical during the first quarter valued at $28,000. nVerses Capital LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the second quarter valued at approximately $33,000. UMB Bank n.a. raised its holdings in shares of Ultragenyx Pharmaceutical by 58.1% during the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 352 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Ultragenyx Pharmaceutical by 622.3% during the first quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 865 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Ultragenyx Pharmaceutical by 67.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock worth $155,000 after purchasing an additional 1,339 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the sale, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 40,091 shares of company stock valued at $2,125,513 in the last three months. Corporate insiders own 5.80% of the company’s stock.

Wall Street Analysts Forecast Growth

RARE has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a report on Monday, August 5th. The Goldman Sachs Group lifted their price objective on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company increased their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Wedbush lifted their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus price target of $87.43.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE opened at $56.51 on Wednesday. The company has a market capitalization of $5.21 billion, a PE ratio of -7.04 and a beta of 0.56. The company’s 50 day moving average price is $53.50 and its 200 day moving average price is $46.74. Ultragenyx Pharmaceutical Inc. has a 52 week low of $31.52 and a 52 week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) EPS for the quarter, beating the consensus estimate of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The business had revenue of $147.03 million for the quarter, compared to analysts’ expectations of $123.20 million. During the same period in the previous year, the company posted ($2.25) EPS. Ultragenyx Pharmaceutical’s revenue was up 35.7% on a year-over-year basis. On average, equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.24 earnings per share for the current fiscal year.

Ultragenyx Pharmaceutical 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.