SummitTX Capital L.P. Acquires New Position in Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• SummitTX Capital acquired 347,760 shares of Ultragenyx Pharmaceutical in the first quarter, worth approximately $7.29 million and representing a 0.35% stake.
• Institutional investors own 97.67% of Ultragenyx, while company insiders have sold 19,319 shares valued at about $476,837 over the past 90 days.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $58.41, although the company recently missed quarterly EPS and revenue estimates and reported year-over-year revenue declines.

SummitTX Capital L.P. bought a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 347,760 shares of the biopharmaceutical company's stock, valued at approximately $7,286,000. SummitTX Capital L.P. owned 0.35% of Ultragenyx Pharmaceutical as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co boosted its position in shares of Ultragenyx Pharmaceutical by 2.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 26,932 shares of the biopharmaceutical company's stock worth $817,000 after purchasing an additional 534 shares during the last quarter. Van ECK Associates Corp grew its position 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 buying an additional 549 shares during the period. Tidal Investments LLC increased its stake in shares of Ultragenyx Pharmaceutical by 4.7% in the 2nd quarter. Tidal Investments LLC now owns 12,591 shares of the biopharmaceutical company's stock valued at $458,000 after acquiring an additional 564 shares during the last quarter. Rafferty Asset Management LLC raised its position in shares of Ultragenyx Pharmaceutical by 0.4% in the 4th quarter. Rafferty Asset Management LLC now owns 157,061 shares of the biopharmaceutical company's stock valued at $3,612,000 after acquiring an additional 577 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Ultragenyx Pharmaceutical by 43.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company's stock valued at $57,000 after purchasing an additional 751 shares during the period. Institutional investors own 97.67% of the company's stock.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, Director Shehnaaz Suliman sold 5,740 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $25.12, for a total value of $144,188.80. Following the sale, the director owned 27,951 shares in the company, valued at approximately $702,129.12. The trade was a 17.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Howard Horn sold 4,683 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $24.90, for a total value of $116,606.70. Following the transaction, the chief financial officer directly owned 110,342 shares of the company's stock, valued at approximately $2,747,515.80. This trade represents a 4.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,319 shares of company stock valued at $476,837 in the last ninety days. Corporate insiders own 5.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RARE shares. Wedbush reduced their price target on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 6th. Guggenheim reduced their target price on Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Morgan Stanley increased their price target on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. Royal Bank Of Canada lifted their price objective on Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Tuesday, July 7th. Finally, Wells Fargo & Company boosted their price objective on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the company an "overweight" rating 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 given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $58.41.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE opened at $26.90 on Monday. The firm has a market cap of $2.65 billion, a PE ratio of -4.40 and a beta of 0.31. Ultragenyx Pharmaceutical Inc. has a 1-year low of $18.29 and a 1-year high of $39.89. The company has a fifty day moving average price of $27.45 and a 200 day moving average price of $24.65.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($1.49) by ($0.35). The firm had revenue of $136.00 million for the quarter, compared to the consensus estimate of $158.19 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.Ultragenyx Pharmaceutical's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the company posted ($1.57) EPS. Equities research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -4.53 EPS for the current year.

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.

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