Cinctive Capital Management LP Purchases 14,301 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Cinctive Capital Management LP increased its stake in Ultragenyx Pharmaceutical by 22.7% during the first quarter, bringing its total ownership to approximately 0.08%, valued at $2.8 million.
• Ultragenyx Pharmaceutical reported better-than-expected earnings with a loss of ($1.17) EPS, surpassing consensus estimates of ($1.27), alongside a 13.2% year-over-year revenue growth.
• Analysts maintain a Moderate Buy consensus rating for Ultragenyx Pharmaceutical, with a target price averaging $81.50, despite some recent price target adjustments from brokerages.

Cinctive Capital Management LP grew its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 22.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 77,261 shares of the biopharmaceutical company's stock after purchasing an additional 14,301 shares during the quarter. Cinctive Capital Management LP owned 0.08% of Ultragenyx Pharmaceutical worth $2,798,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of RARE. Adage Capital Partners GP L.L.C. increased its position in shares of Ultragenyx Pharmaceutical by 81.6% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,149,000 shares of the biopharmaceutical company's stock valued at $77,815,000 after purchasing an additional 965,919 shares during the period. Vestal Point Capital LP boosted its stake in shares of Ultragenyx Pharmaceutical by 100.0% during the 4th quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company's stock worth $63,105,000 after acquiring an additional 750,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Ultragenyx Pharmaceutical by 28.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,218,942 shares of the biopharmaceutical company's stock worth $116,559,000 after acquiring an additional 706,519 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Ultragenyx Pharmaceutical by 81.0% in the fourth quarter. Point72 Asset Management L.P. now owns 1,182,877 shares of the biopharmaceutical company's stock worth $49,764,000 after buying an additional 529,217 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the first quarter worth $18,776,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE traded up $0.09 on Wednesday, reaching $31.59. The company had a trading volume of 481,666 shares, compared to its average volume of 1,294,569. The company's fifty day moving average is $30.20 and its 200-day moving average is $34.63. Ultragenyx Pharmaceutical Inc. has a 1-year low of $25.81 and a 1-year high of $60.37. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -5.67 and a beta of 0.21.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its 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. Ultragenyx Pharmaceutical had a negative net margin of 87.34% and a negative return on equity of 237.48%. The business had revenue of $166.50 million during the quarter, compared to the consensus estimate of $161.37 million. During the same period last year, the business posted ($1.52) EPS. Ultragenyx Pharmaceutical's revenue was up 13.2% on a year-over-year basis. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. On average, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. William Blair assumed coverage on Ultragenyx Pharmaceutical in a research report on Wednesday, May 28th. They set an "outperform" rating and a $65.00 price objective for the company. Guggenheim reissued a "buy" rating and issued a $64.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, June 20th. HC Wainwright restated a "buy" rating and issued a $80.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday. Canaccord Genuity Group dropped their target price on shares of Ultragenyx Pharmaceutical from $136.00 to $128.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $105.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, September 5th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.