Alliancebernstein L.P. Sells 380,552 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Alliancebernstein L.P. reduced its stake in Ultragenyx Pharmaceutical Inc. by 23.4%, now holding 1,247,380 shares worth approximately $45.2 million.
• Despite the stake reduction by Alliancebernstein, other institutional investors like Adage Capital Partners and Vestal Point Capital have significantly increased their holdings in Ultragenyx, indicating mixed investor sentiment.
• Ultragenyx recently reported a quarterly earnings per share of ($1.17), surpassing analysts' estimates while also experiencing a 13.2% year-over-year revenue increase of $166.5 million.

Alliancebernstein L.P. reduced its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 23.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,247,380 shares of the biopharmaceutical company's stock after selling 380,552 shares during the period. Alliancebernstein L.P. owned approximately 1.32% of Ultragenyx Pharmaceutical worth $45,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in Ultragenyx Pharmaceutical by 28.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,218,942 shares of the biopharmaceutical company's stock valued at $116,559,000 after purchasing an additional 706,519 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Ultragenyx Pharmaceutical by 81.6% during the first 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 in the last quarter. Federated Hermes Inc. lifted its position in Ultragenyx Pharmaceutical by 0.3% during the first quarter. Federated Hermes Inc. now owns 2,055,200 shares of the biopharmaceutical company's stock valued at $74,419,000 after purchasing an additional 5,400 shares in the last quarter. Deutsche Bank AG lifted its position in Ultragenyx Pharmaceutical by 0.5% during the first quarter. Deutsche Bank AG now owns 1,701,493 shares of the biopharmaceutical company's stock valued at $61,611,000 after purchasing an additional 8,385 shares in the last quarter. Finally, Vestal Point Capital LP lifted its position in Ultragenyx Pharmaceutical by 100.0% during the fourth quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company's stock valued at $63,105,000 after purchasing an additional 750,000 shares in the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of Ultragenyx Pharmaceutical stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $37.39, for a total value of $89,922.95. Following the sale, the director directly owned 15,344 shares of the company's stock, valued at approximately $573,712.16. The trade was a 13.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.50% of the company's stock.

Ultragenyx Pharmaceutical Stock Performance

Shares of Ultragenyx Pharmaceutical stock traded down $0.21 during trading hours on Wednesday, hitting $31.29. The company's stock had a trading volume of 1,905,089 shares, compared to its average volume of 1,303,024. Ultragenyx Pharmaceutical Inc. has a 12-month low of $25.81 and a 12-month high of $60.37. The business has a 50 day moving average price of $30.20 and a two-hundred day moving average price of $34.63. The company has a market cap of $3.02 billion, a PE ratio of -5.66 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, topping the consensus estimate of ($1.27) by $0.10. Ultragenyx Pharmaceutical had a negative return on equity of 237.48% and a negative net margin of 87.34%.The firm had revenue of $166.50 million for the quarter, compared to analysts' expectations of $161.37 million. During the same period in the previous year, the firm posted ($1.52) earnings per share. The business's revenue was up 13.2% compared to the same quarter last year. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RARE shares. Wells Fargo & Company lowered their target price on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. HC Wainwright restated a "buy" rating and issued a $80.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday. William Blair started coverage on Ultragenyx Pharmaceutical in a research report on Wednesday, May 28th. They issued an "outperform" rating and a $65.00 price objective on the stock. Guggenheim restated a "buy" rating and issued a $64.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 20th. Finally, Morgan Stanley lowered their price objective on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $81.50.

Ultragenyx Pharmaceutical 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.