Ultragenyx Pharmaceutical Inc. $RARE Position Trimmed by First Light Asset Management LLC

Key Points

• First Light Asset Management LLC reduced its stake in Ultragenyx Pharmaceutical by 17.2%, now holding 632,033 shares valued at approximately $22.9 million, making it the firm's 14th largest holding.
• Several institutional investors are either acquiring or increasing their positions in Ultragenyx Pharmaceutical, with 97.67% of the company's stock currently held by hedge funds and other large investors.
• Wall Street analysts have varied opinions on Ultragenyx, with 11 analysts recommending a Buy rating, while the average target price is set at $81.50, down from prior estimates between $65.00 and $136.00.

First Light Asset Management LLC trimmed its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 17.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 632,033 shares of the biopharmaceutical company's stock after selling 131,574 shares during the quarter. Ultragenyx Pharmaceutical comprises 2.6% of First Light Asset Management LLC's portfolio, making the stock its 14th largest position. First Light Asset Management LLC owned about 0.67% of Ultragenyx Pharmaceutical worth $22,886,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Deep Track Capital LP purchased a new stake in Ultragenyx Pharmaceutical during the fourth quarter worth approximately $27,493,000. Stifel Financial Corp grew its stake in Ultragenyx Pharmaceutical by 13.5% during the fourth quarter. Stifel Financial Corp now owns 23,796 shares of the biopharmaceutical company's stock worth $1,001,000 after buying an additional 2,835 shares during the period. Knott David M Jr purchased a new stake in Ultragenyx Pharmaceutical during the first quarter worth approximately $1,738,000. Brevan Howard Capital Management LP grew its stake in Ultragenyx Pharmaceutical by 116.7% during the fourth quarter. Brevan Howard Capital Management LP now owns 35,201 shares of the biopharmaceutical company's stock worth $1,481,000 after buying an additional 18,960 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in Ultragenyx Pharmaceutical during the fourth quarter worth approximately $3,702,000. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Price Performance

RARE traded up $0.54 during trading on Friday, hitting $31.82. The company had a trading volume of 1,325,362 shares, compared to its average volume of 1,310,061. The company has a market cap of $3.07 billion, a PE ratio of -5.75 and a beta of 0.21. The business has a 50-day moving average of $30.40 and a 200-day moving average of $34.86. Ultragenyx Pharmaceutical Inc. has a 1-year low of $25.81 and a 1-year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.27) by $0.10. The firm had revenue of $166.50 million for the quarter, compared to analysts' expectations of $161.37 million. Ultragenyx Pharmaceutical had a negative net margin of 87.34% and a negative return on equity of 237.48%. The firm's quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the company posted ($1.52) earnings per share. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. Research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $37.39, for a total transaction of $89,922.95. Following the completion of the sale, the director owned 15,344 shares in the company, valued at $573,712.16. The trade was a 13.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RARE has been the subject of several research reports. Wedbush decreased their price objective on shares of Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a "neutral" rating for the company in a research note on Monday, July 14th. Guggenheim reissued a "buy" rating and set a $64.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 20th. Canaccord Genuity Group reduced their target price on shares of Ultragenyx Pharmaceutical from $136.00 to $128.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. HC Wainwright raised shares of Ultragenyx Pharmaceutical to a "buy" rating and set a $80.00 target price on the stock in a research report on Monday, July 28th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $105.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $81.50.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.