Ultragenyx Pharmaceutical Inc. $RARE Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its Ultragenyx Pharmaceutical stake by 61.4% in the fourth quarter, leaving it with 29,679 shares worth about $663,000.
• Ultragenyx reported a wider-than-expected quarterly loss of ($1.84) per share on revenue of $136 million, missing analyst estimates on both earnings and sales.
• Despite mixed fundamentals, Wall Street remains cautiously positive, with a Moderate Buy consensus and an average price target of $58.41, while several insiders also sold shares recently.

Hsbc Holdings PLC lessened its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 61.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,679 shares of the biopharmaceutical company's stock after selling 47,206 shares during the period. Hsbc Holdings PLC's holdings in Ultragenyx Pharmaceutical were worth $663,000 at the end of the most recent quarter.

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

Ultragenyx Pharmaceutical Stock Down 1.0%

Shares of NASDAQ:RARE opened at $31.71 on Thursday. The company's fifty day moving average is $27.14 and its two-hundred day moving average is $24.45. The company has a market cap of $3.12 billion, a P/E ratio of -5.19 and a beta of 0.31. Ultragenyx Pharmaceutical Inc. has a 12-month low of $18.29 and a 12-month high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share for the quarter, missing analysts' consensus estimates of ($1.49) by ($0.35). The business had revenue of $136.00 million for the quarter, compared to analysts' expectations of $158.19 million. Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The business's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.57) EPS. Equities research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -4.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.62, for a total value of $46,753.38. Following the completion of the sale, the executive vice president directly owned 94,462 shares of the company's stock, valued at $2,325,654.44. This represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shehnaaz Suliman sold 5,740 shares of the firm'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 transaction of $144,188.80. Following the sale, the director owned 27,951 shares of the company's stock, valued at approximately $702,129.12. This represents a 17.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 19,319 shares of company stock worth $476,837 over the last quarter. Company insiders own 5.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RARE. Wedbush lowered their price target on 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 cut their price objective on Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a "buy" rating for the company in a report on Friday, May 8th. Weiss Ratings raised Ultragenyx Pharmaceutical from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, July 9th. Truist Financial raised Ultragenyx Pharmaceutical to a "strong-buy" rating in a report on Wednesday, March 25th. Finally, Wall Street Zen upgraded shares of Ultragenyx Pharmaceutical from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $58.41.

About Ultragenyx Pharmaceutical

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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