Sei Investments Co. Sells 61,632 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Sei Investments cut its Ultragenyx Pharmaceutical stake by 40.1% in the first quarter, selling 61,632 shares and retaining 92,094 shares valued at approximately $1.93 million.
• Institutional ownership remains high at 97.67%, with several major investors—including Assenagon, Jacobs Levy, Norges Bank and Millennium Management—substantially increasing their positions.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $57.82. Ultragenyx also exceeded quarterly expectations, reporting revenue of $214 million and an adjusted loss of $0.90 per share.

Sei Investments Co. lowered its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 40.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,094 shares of the biopharmaceutical company's stock after selling 61,632 shares during the period. Sei Investments Co. owned approximately 0.09% of Ultragenyx Pharmaceutical worth $1,929,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its holdings in shares of Ultragenyx Pharmaceutical by 1,030.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company's stock worth $47,298,000 after purchasing an additional 2,057,951 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Ultragenyx Pharmaceutical by 614.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company's stock valued at $65,205,000 after buying an additional 1,864,164 shares during the period. Norges Bank bought a new stake in Ultragenyx Pharmaceutical in the fourth quarter worth $29,004,000. Millennium Management LLC lifted its position in Ultragenyx Pharmaceutical by 787.6% in the fourth quarter. Millennium Management LLC now owns 880,644 shares of the biopharmaceutical company's stock worth $20,255,000 after buying an additional 781,431 shares during the last quarter. Finally, Vestal Point Capital LP purchased a new position in Ultragenyx Pharmaceutical during the third quarter worth $22,560,000. 97.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Guggenheim cut their price objective on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Cantor Fitzgerald lifted their price target on shares of Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. Wall Street Zen raised shares of Ultragenyx Pharmaceutical from a "sell" rating to a "hold" rating in a research note on Saturday. Wells Fargo & Company cut their price target on shares of Ultragenyx Pharmaceutical from $47.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, August 5th. Finally, Barclays decreased their price objective on shares of Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.82.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ:RARE opened at $25.91 on Monday. The firm's 50 day simple moving average is $27.89 and its 200-day simple moving average is $24.81. Ultragenyx Pharmaceutical Inc. has a one year low of $18.29 and a one year high of $39.89. The firm has a market cap of $2.55 billion, a PE ratio of -4.44 and a beta of 0.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings results 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 return on equity of 1,024.42% and a negative net margin of 81.79%.The firm had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. During the same quarter in the previous year, the business earned ($1.17) earnings per share. Ultragenyx Pharmaceutical's quarterly revenue was up 28.5% on a year-over-year basis. Equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -4.42 EPS for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 4,653 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $23.77, for a total transaction of $110,601.81. Following the completion of the sale, the chief financial officer owned 105,689 shares in the company, valued at $2,512,227.53. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the firm's 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 completion of the sale, the executive vice president 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. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,292 shares of company stock worth $351,644 over the last quarter. 5.20% of the stock is currently owned by company insiders.

Ultragenyx Pharmaceutical Company 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.

Want to see what other hedge funds are holding RARE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source