Algert Global LLC Reduces Position in Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Algert Global cut its Ultragenyx Pharmaceutical position by 9% in the second quarter, selling 38,565 shares and retaining 389,964 shares valued at approximately $13.0 million. Institutional investors collectively own 97.67% of the company.
• Ultragenyx reported quarterly revenue of $214 million, up 28.5% year over year, and an adjusted loss of $0.90 per share—better than analysts’ expected loss of $1.22 per share.
• Analyst sentiment remains positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $59.22, despite recent insider selling and RARE shares opening at $26.46.

Algert Global LLC decreased its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 9.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 389,964 shares of the biopharmaceutical company's stock after selling 38,565 shares during the period. Algert Global LLC owned 0.40% of Ultragenyx Pharmaceutical worth $13,021,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Parallel Advisors LLC boosted its holdings in Ultragenyx Pharmaceutical by 778.4% in the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company's stock worth $34,000 after buying an additional 1,440 shares during the period. Leonteq Securities AG boosted its holdings in shares of Ultragenyx Pharmaceutical by 288.5% in the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company's stock worth $38,000 after acquiring an additional 1,333 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Ultragenyx Pharmaceutical by 662.9% in the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company's stock worth $38,000 after acquiring an additional 1,001 shares during the period. Danske Bank A S bought a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter valued at $39,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Ultragenyx Pharmaceutical by 573.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 1,845 shares in the last quarter. Institutional investors own 97.67% of the company's stock.

Insider Activity

In related news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.05, for a total transaction of $50,100.00. Following the transaction, the director directly owned 21,095 shares in the company, valued at $528,429.75. This trade represents a 8.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Karah Herdman Parschauer sold 1,899 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the completion of the transaction, the executive vice president directly owned 94,462 shares in the company, valued at $2,325,654.44. This trade represents a 1.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 8,552 shares of company stock valued at $207,455. Insiders own 5.20% of the company's stock.

Ultragenyx Pharmaceutical Stock Performance

RARE stock opened at $26.46 on Wednesday. The company has a market capitalization of $2.61 billion, a PE ratio of -4.53 and a beta of 0.35. Ultragenyx Pharmaceutical Inc. has a one year low of $18.29 and a one year high of $39.89. The company's 50 day moving average price is $28.62 and its two-hundred day moving average price is $25.00.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The company had revenue of $214.00 million during the quarter, compared to analysts' expectations of $183.08 million. During the same quarter in the prior year, the company earned ($1.17) EPS. The firm's revenue was up 28.5% on a year-over-year basis. On average, research analysts predict that Ultragenyx Pharmaceutical Inc. will post -3.99 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on RARE shares. Guggenheim cut their price objective on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Cantor Fitzgerald upped their target price on shares of Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, August 20th. HC Wainwright reiterated a "buy" rating and issued a $50.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Monday, August 10th. Wedbush reduced their target price on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, May 6th. Finally, Citigroup raised their price objective on shares of Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.22.

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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