Squarepoint Ops LLC Sells 106,171 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Squarepoint Ops LLC cut its Ultragenyx Pharmaceutical stake by 23.9%, selling 106,171 shares in the second quarter and retaining 338,368 shares valued at approximately $11.3 million. Institutional investors collectively own 97.67% of the company.
• Analysts recently reduced ratings and price targets, including JPMorgan’s downgrade to neutral and Wells Fargo’s target cut to $18. Despite this, Ultragenyx maintains a consensus “Moderate Buy” rating with an average target price of $36.63.
• RARE opened at $14.31, near its 12-month low of $13.81, while its latest quarter showed better-than-expected results: revenue rose 28.5% year over year to $214 million and the per-share loss was narrower than forecast.

Squarepoint Ops LLC decreased its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 23.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 338,368 shares of the biopharmaceutical company's stock after selling 106,171 shares during the quarter. Squarepoint Ops LLC owned approximately 0.34% of Ultragenyx Pharmaceutical worth $11,298,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RARE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 14.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 232,360 shares of the biopharmaceutical company's stock worth $8,414,000 after acquiring an additional 29,984 shares in the last quarter. Creative Planning bought a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $454,000. American Century Companies Inc. bought a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $366,000. M&T Bank Corp lifted its holdings in Ultragenyx Pharmaceutical by 19.7% in the 2nd quarter. M&T Bank Corp now owns 7,232 shares of the biopharmaceutical company's stock worth $263,000 after purchasing an additional 1,192 shares during the last quarter. Finally, Amundi lifted its holdings in Ultragenyx Pharmaceutical by 1,560.4% in the 2nd quarter. Amundi now owns 99,161 shares of the biopharmaceutical company's stock worth $3,913,000 after purchasing an additional 93,189 shares during the last quarter. Institutional investors own 97.67% of the company's stock.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, EVP Karah Parschauer sold 1,899 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.62, for a total transaction of $46,753.38. Following the transaction, the executive vice president owned 94,462 shares in the company, valued at approximately $2,325,654.44. The trade was a 1.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the company's 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 transaction, the director directly owned 21,095 shares of the company's stock, valued at $528,429.75. This represents a 8.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 4,060 shares of company stock valued at $99,106. Corporate insiders own 5.20% of the company's stock.

Analyst Ratings Changes

RARE has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded Ultragenyx Pharmaceutical from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $80.00 to $36.00 in a report on Thursday, September 3rd. Wedbush reduced their price objective on shares of Ultragenyx Pharmaceutical from $30.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, September 3rd. Bank of America downgraded shares of Ultragenyx Pharmaceutical from a "buy" rating to a "neutral" rating in a report on Thursday, September 3rd. Wells Fargo & Company lowered shares of Ultragenyx Pharmaceutical from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $50.00 to $18.00 in a research note on Thursday, September 3rd. Finally, Citigroup dropped their target price on shares of Ultragenyx Pharmaceutical from $58.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.63.

Ultragenyx Pharmaceutical Stock Down 3.8%

RARE opened at $14.31 on Thursday. The firm has a market capitalization of $1.41 billion, a P/E ratio of -2.45 and a beta of 0.31. The stock's 50 day moving average price is $26.73 and its two-hundred day moving average price is $24.88. Ultragenyx Pharmaceutical Inc. has a 12-month low of $13.81 and a 12-month high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping 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 company had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. During the same period in the previous year, the company earned ($1.17) earnings per share. The company's quarterly revenue was up 28.5% compared to the same quarter last year. As a group, analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -3.98 earnings per share for the current year.

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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