Blue Owl Capital Holdings LP Decreases Position in Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Blue Owl Capital Holdings LP cut its Ultragenyx Pharmaceutical stake by 49.7% in the fourth quarter, leaving it with 212,638 shares valued at about $4.89 million.
• Ultragenyx recently reported a loss of $1.84 per share on $136 million in revenue, missing Wall Street expectations on both earnings and sales.
• Analysts remain mostly positive overall, with the stock carrying a “Moderate Buy” consensus and an average target price of $59.88, though several firms have recently lowered their price targets.

Blue Owl Capital Holdings LP cut its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 49.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,638 shares of the biopharmaceutical company's stock after selling 209,800 shares during the quarter. Ultragenyx Pharmaceutical makes up approximately 0.4% of Blue Owl Capital Holdings LP's portfolio, making the stock its 22nd largest holding. Blue Owl Capital Holdings LP owned approximately 0.22% of Ultragenyx Pharmaceutical worth $4,891,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. lifted its stake in Ultragenyx Pharmaceutical by 1,706.7% in the 3rd quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company's stock valued at $33,000 after buying an additional 1,024 shares in the last quarter. Huntington National Bank lifted its stake in 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 buying an additional 393 shares in the last quarter. Danske Bank A S purchased a new position in Ultragenyx Pharmaceutical in the 3rd quarter valued at about $39,000. Smartleaf Asset Management LLC lifted its stake in Ultragenyx Pharmaceutical by 205.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,738 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 1,169 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Ultragenyx Pharmaceutical by 26.0% in the 3rd quarter. Covestor Ltd now owns 1,787 shares of the biopharmaceutical company's stock valued at $54,000 after buying an additional 369 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RARE. JPMorgan Chase & Co. decreased their target price on shares of Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an "overweight" rating on the stock in a research note on Thursday, March 12th. Weiss Ratings raised shares of Ultragenyx Pharmaceutical from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, May 8th. Canaccord Genuity Group decreased their target price on shares of Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a "buy" rating on the stock in a research note on Wednesday, February 18th. Morgan Stanley raised their target price on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. Finally, Guggenheim decreased their target price on shares of Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $59.88.

Ultragenyx Pharmaceutical Price Performance

RARE opened at $23.39 on Monday. The company's 50 day simple moving average is $23.22 and its two-hundred day simple moving average is $26.07. Ultragenyx Pharmaceutical Inc. has a 1-year low of $18.29 and a 1-year high of $42.37. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -3.83 and a beta of 0.39.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share for the quarter, missing analysts' consensus estimates of ($1.49) by ($0.35). The business had revenue of $136.00 million during 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 company's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the business earned ($1.57) earnings per share. On average, equities analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -4.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, EVP Eric Crombez sold 7,029 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $22.80, for a total transaction of $160,261.20. Following the completion of the sale, the executive vice president owned 76,301 shares in the company, valued at $1,739,662.80. This trade represents a 8.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Karah Herdman Parschauer sold 8,135 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $22.80, for a total transaction of $185,478.00. Following the sale, the executive vice president owned 76,346 shares of the company's stock, valued at $1,740,688.80. This represents a 9.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 117,262 shares of company stock worth $2,687,403. Insiders own 5.20% of the company's stock.

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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