182,638 Shares in Ultragenyx Pharmaceutical Inc. $RARE Purchased by Blue Owl Capital Holdings LP

Key Points

• Blue Owl Capital Holdings LP purchased 182,638 Ultragenyx shares worth approximately $6.1 million, making the position about 0.19% of the company and 0.9% of the fund’s portfolio. Institutional investors collectively own 97.67% of Ultragenyx.
• Ultragenyx exceeded quarterly expectations, reporting a loss of $0.90 per share versus the $1.22 consensus loss and revenue of $214 million, up 28.5% year over year. Despite the improved results, the stock was trading down 3.5% at $25.32.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $58.50. Recent target increases followed the FDA’s accelerated approval of GENGLYCOS, which could provide a significant long-term revenue opportunity.

Blue Owl Capital Holdings LP purchased a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 182,638 shares of the biopharmaceutical company's stock, valued at approximately $6,098,000. Ultragenyx Pharmaceutical accounts for 0.9% of Blue Owl Capital Holdings LP's investment portfolio, making the stock its 20th largest holding. Blue Owl Capital Holdings LP owned about 0.19% of Ultragenyx Pharmaceutical at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RARE. BlackRock Inc. bought a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $355,746,000. Assenagon Asset Management S.A. increased its position in Ultragenyx Pharmaceutical by 1,030.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company's stock valued at $47,298,000 after purchasing an additional 2,057,951 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Ultragenyx Pharmaceutical by 614.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company's stock worth $65,205,000 after purchasing an additional 1,864,164 shares in the last quarter. Norges Bank bought a new position in Ultragenyx Pharmaceutical in the 4th quarter worth $29,004,000. Finally, Eagle Health Investments LP purchased a new stake in shares of Ultragenyx Pharmaceutical in the 1st quarter worth about $18,522,000. Institutional investors own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Trading Down 3.5%

Shares of NASDAQ:RARE opened at $25.32 on Friday. The stock has a fifty day simple moving average of $28.55 and a two-hundred day simple moving average of $24.97. Ultragenyx Pharmaceutical Inc. has a 12-month low of $18.29 and a 12-month high of $39.89. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -4.34 and a beta of 0.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The firm had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. During the same quarter in the previous year, the firm earned ($1.17) EPS. Ultragenyx Pharmaceutical's quarterly revenue was up 28.5% compared to the same quarter last year. As a group, equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -4.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RARE. Canaccord Genuity Group lifted their target price on shares of Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the company a "buy" rating in a research note on Thursday. Royal Bank Of Canada raised their price objective on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the stock an "outperform" rating in a report on Tuesday, July 7th. Cantor Fitzgerald lifted their price objective on Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the company an "overweight" rating in a research report on Thursday. Citigroup upped their target price on Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Wells Fargo & Company increased their target price on Ultragenyx Pharmaceutical from $45.00 to $46.00 and gave the stock an "overweight" rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $58.50.

Trending Headlines about Ultragenyx Pharmaceutical

Here are the key news stories impacting Ultragenyx Pharmaceutical this week:

• Positive Sentiment: FDA approves GENGLYCOS: The FDA granted accelerated approval to GENGLYCOS (pariglasgene brecaparvovec, or DTX401), the first approved treatment designed to address the underlying cause of glycogen storage disease type Ia (GSDIa), a rare metabolic disorder. The approval gives Ultragenyx a potentially important new commercial product and expands its rare-disease portfolio. Reuters article
• Positive Sentiment: Potential long-term revenue opportunity: Analysts cited the gene therapy’s potential to create a “long revenue tailwind,” while the approval may reduce the treatment burden for GSDIa patients. Ultragenyx also received an FDA Priority Review Voucher, which could have strategic or financial value. Yahoo Finance article
• Positive Sentiment: Broad analyst optimism: Cantor Fitzgerald raised its price target to $103 from $96 and maintained an overweight rating. Canaccord Genuity lifted its target to $83 from $81 with a buy rating, while Citi raised its target to $58 from $45 and Wells Fargo to $46 from $45. These targets signal substantial expected upside from the referenced $25.32 share price. Benzinga article
• Neutral Sentiment: The accelerated approval is a significant catalyst, but investors will likely focus next on commercial launch timing, patient adoption, pricing, and required post-approval evidence.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, EVP Karah Herdman Parschauer sold 1,899 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $24.62, for a total transaction of $46,753.38. Following the transaction, the executive vice president directly owned 94,462 shares of the company's stock, valued at $2,325,654.44. This represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Howard Horn sold 4,653 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $23.77, for a total transaction of $110,601.81. Following the transaction, the chief financial officer owned 105,689 shares in the company, valued at $2,512,227.53. This represents a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 8,552 shares of company stock worth $207,455. Corporate insiders own 5.20% of the company's stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company's commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.

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