OP Asset Management Ltd Makes New $1.82 Million Investment in Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• OP Asset Management opened a new position in Ultragenyx Pharmaceutical, buying 86,917 shares valued at about $1.82 million, according to its latest 13F filing.
• Insider selling was notable: Director Corazon D. Sanders and EVP Karah Herdman Parschauer sold shares on June 15, and insiders have sold 24,002 shares worth $575,039 over the past three months.
• Ultragenyx recently reported weaker-than-expected earnings, missing estimates on both EPS and revenue, while analysts still maintain a Moderate Buy consensus with an average price target of $59.56.

OP Asset Management Ltd purchased a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 86,917 shares of the biopharmaceutical company's stock, valued at approximately $1,821,000. OP Asset Management Ltd owned 0.09% of Ultragenyx Pharmaceutical as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RARE. Huntington National Bank boosted its holdings in shares of Ultragenyx Pharmaceutical by 56.2% in the third quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company's stock worth $33,000 after buying an additional 393 shares during the last quarter. Danske Bank A S purchased a new stake in Ultragenyx Pharmaceutical during the third quarter valued at approximately $39,000. Aster Capital Management DIFC Ltd bought a new position in Ultragenyx Pharmaceutical in the fourth quarter worth approximately $56,000. Smartleaf Asset Management LLC raised its position in Ultragenyx Pharmaceutical by 43.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company's stock worth $57,000 after acquiring an additional 751 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Ultragenyx Pharmaceutical by 26.1% during the 3rd quarter. Van ECK Associates Corp now owns 2,650 shares of the biopharmaceutical company's stock worth $80,000 after acquiring an additional 549 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company's stock.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the company'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 value of $50,100.00. Following the completion of the transaction, the director directly owned 21,095 shares in the company, valued at $528,429.75. This represents a 8.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.62, for a total transaction of $46,753.38. Following the sale, the executive vice president directly owned 94,462 shares of the company's stock, valued at approximately $2,325,654.44. This trade represents a 1.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,002 shares of company stock valued at $575,039 over the last three months. Insiders own 5.20% of the company's stock.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ RARE opened at $30.77 on Monday. The stock has a market cap of $3.03 billion, a PE ratio of -5.04 and a beta of 0.37. Ultragenyx Pharmaceutical Inc. has a 1 year low of $18.29 and a 1 year high of $42.37. The firm has a fifty day moving average price of $24.87 and a 200-day moving average price of $24.59.

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). Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The firm had revenue of $136.00 million for the quarter, compared to analysts' expectations of $158.19 million. During the same quarter last year, the firm posted ($1.57) EPS. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. On average, research analysts expect that Ultragenyx Pharmaceutical Inc. will post -4.53 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RARE shares. Guggenheim cut their price objective on shares of Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Barclays decreased their target price on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Morgan Stanley boosted 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. Cantor Fitzgerald upped their price target on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, May 21st. Finally, Wedbush decreased their price objective on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $59.56.

About Ultragenyx Pharmaceutical

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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