Candriam S.C.A. Raises Stake in Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Candriam S.C.A. increased its Ultragenyx Pharmaceutical stake by 37.1% in the first quarter, bringing its holdings to 1,096,182 shares worth about $22.97 million. The filing suggests institutional investors remain heavily involved, with institutions owning 97.67% of the stock.
• Ultragenyx missed quarterly earnings and revenue estimates, reporting EPS of -$1.84 versus expectations of -$1.49 and revenue of $136 million versus $158.19 million expected. The company also posted a negative net margin and expects full-year EPS of -4.53.
• Analysts remain mostly bullish, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating and average target of $58.41. However, insider selling was noted, including recent sales by an EVP and a director.

Candriam S.C.A. lifted its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 37.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,096,182 shares of the biopharmaceutical company's stock after acquiring an additional 296,798 shares during the period. Candriam S.C.A. owned approximately 1.12% of Ultragenyx Pharmaceutical worth $22,965,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC lifted its position in Ultragenyx Pharmaceutical by 74.0% during the 1st quarter. Hsbc Holdings PLC now owns 51,637 shares of the biopharmaceutical company's stock worth $1,080,000 after acquiring an additional 21,958 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Ultragenyx Pharmaceutical in the first quarter valued at approximately $4,575,000. Leonteq Securities AG raised its stake in shares of Ultragenyx Pharmaceutical by 288.5% during the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company's stock valued at $38,000 after purchasing an additional 1,333 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its position in shares of Ultragenyx Pharmaceutical by 63.0% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 99,995 shares of the biopharmaceutical company's stock worth $2,095,000 after purchasing an additional 38,666 shares in the last quarter. Finally, OP Asset Management Ltd acquired a new position in shares of Ultragenyx Pharmaceutical during the first quarter worth $1,821,000. Institutional investors and hedge funds own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Trading Down 2.3%

RARE traded down $0.79 on Friday, hitting $33.82. 1,578,135 shares of the company's stock were exchanged, compared to its average volume of 3,166,224. The stock has a fifty day moving average of $26.71 and a two-hundred day moving average of $24.57. Ultragenyx Pharmaceutical Inc. has a twelve month low of $18.29 and a twelve month high of $39.89. The firm has a market cap of $3.33 billion, a PE ratio of -5.54 and a beta of 0.31.

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

Analysts Set New Price Targets

RARE has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Morgan Stanley increased their price target on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Truist Financial upgraded Ultragenyx Pharmaceutical to a "strong-buy" rating in a report on Wednesday, March 25th. Cantor Fitzgerald increased their target price on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, May 21st. Finally, Wedbush decreased their price target on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.41.

Insider Buying and Selling

In related news, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.62, for a total value of $46,753.38. Following the sale, the executive vice president owned 94,462 shares of the company's stock, valued at $2,325,654.44. This trade represents a 1.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 transaction of $50,100.00. Following the completion of the sale, the director owned 21,095 shares in the company, valued at approximately $528,429.75. This represents a 8.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 19,319 shares of company stock valued at $476,837. 5.20% of the stock is owned by corporate insiders.

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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