56,238 Shares in Ultragenyx Pharmaceutical Inc. $RARE Purchased by Flax Pond Capital LLC

Key Points

• Flax Pond Capital LLC disclosed a new fourth-quarter stake in Ultragenyx Pharmaceutical, buying 56,238 shares worth about $1.29 million. The position represents roughly 0.06% of the company.
• Ultragenyx reported a weaker-than-expected quarterly loss, posting EPS of -$1.84 versus analysts’ estimate of -$1.49, while revenue of $136 million also fell short of forecasts. The company’s revenue declined 2.2% year over year.
• Insiders sold shares recently, including directors Shehnaaz Suliman and Corazon Sanders, with 24,002 shares sold over the last 90 days. Analysts currently view the stock as a Moderate Buy with an average price target of $59.56.

Flax Pond Capital LLC bought a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 56,238 shares of the biopharmaceutical company's stock, valued at approximately $1,293,000. Flax Pond Capital LLC owned about 0.06% of Ultragenyx Pharmaceutical as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assetmark Inc. raised its position in Ultragenyx Pharmaceutical by 1,706.7% during the 3rd quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company's stock worth $33,000 after buying an additional 1,024 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Ultragenyx Pharmaceutical by 56.2% in the 3rd quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 393 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Ultragenyx Pharmaceutical in the third quarter worth $39,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ultragenyx Pharmaceutical in the fourth quarter worth $56,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 43.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company's stock worth $57,000 after purchasing an additional 751 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE opened at $27.44 on Friday. The company has a 50 day moving average price of $24.34 and a 200-day moving average price of $24.88. Ultragenyx Pharmaceutical Inc. has a 1-year low of $18.29 and a 1-year high of $42.37. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -4.49 and a beta of 0.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.49) by ($0.35). The firm had revenue of $136.00 million for the quarter, compared to analysts' expectations of $158.19 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The business's quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the company posted ($1.57) earnings per share. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -4.53 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Shehnaaz Suliman sold 5,740 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $25.12, for a total transaction of $144,188.80. Following the sale, the director directly owned 27,951 shares in the company, valued at $702,129.12. This trade represents a 17.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $25.05, for a total value of $50,100.00. Following the completion of the transaction, the director owned 21,095 shares of the company's stock, valued at approximately $528,429.75. This represents a 8.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 24,002 shares of company stock worth $575,039. 5.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RARE shares. Weiss Ratings upgraded shares of Ultragenyx Pharmaceutical from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, May 8th. JPMorgan Chase & Co. cut their price target on Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an "overweight" rating on the stock in a research report on Thursday, March 12th. The Goldman Sachs Group lowered Ultragenyx Pharmaceutical from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $61.00 to $25.00 in a research note on Tuesday, March 24th. Morgan Stanley boosted their price objective on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Finally, Cantor Fitzgerald upped their target price on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $59.56.

Ultragenyx Pharmaceutical Profile

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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