Insider Selling: Ultragenyx Pharmaceutical (NASDAQ:RARE) CFO Sells $107,897.82 in Stock

Key Points

• Ultragenyx CFO Howard Horn sold 7,066 shares for approximately $107,898 at an average price of $15.27, reducing his direct ownership by 7.34%. The sale was made to cover tax withholding obligations related to vested equity awards.
• Ultragenyx reported quarterly revenue of $214 million, up 28.5% year over year, and a loss of $0.90 per share—better than analysts’ expected loss of $1.22 per share.
• The stock recently traded near $14.99, well below its 52-week high of $39.89. Analysts have a consensus “Hold” rating and an average price target of $33.65, while institutional investors own 97.67% of the company.

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) CFO Howard Horn sold 7,066 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $15.27, for a total transaction of $107,897.82. Following the completion of the sale, the chief financial officer directly owned 89,229 shares of the company's stock, valued at $1,362,526.83. This represents a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ RARE traded up $0.46 during mid-day trading on Monday, reaching $14.99. The company's stock had a trading volume of 1,747,943 shares, compared to its average volume of 2,829,345. The firm has a market capitalization of $1.48 billion, a PE ratio of -2.57 and a beta of 0.35. The stock has a fifty day moving average of $18.82 and a two-hundred day moving average of $23.59. Ultragenyx Pharmaceutical Inc. has a 52 week low of $12.73 and a 52 week high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its 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. The firm had revenue of $214.00 million during the quarter, compared to analysts' expectations of $183.08 million. During the same quarter in the prior year, the firm posted ($1.17) earnings per share. Ultragenyx Pharmaceutical's quarterly revenue was up 28.5% on a year-over-year basis. Analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -3.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its stake in shares of Ultragenyx Pharmaceutical by 295.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 477,869 shares of the biopharmaceutical company's stock worth $7,182,000 after purchasing an additional 357,005 shares during the period. Versant Capital Management Inc increased its holdings in shares of Ultragenyx Pharmaceutical by 121.9% in the third quarter. Versant Capital Management Inc now owns 2,556 shares of the biopharmaceutical company's stock valued at $38,000 after purchasing an additional 1,404 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $311,000. IFP Advisors Inc grew its holdings in shares of Ultragenyx Pharmaceutical by 191.7% during the 2nd quarter. IFP Advisors Inc now owns 2,313 shares of the biopharmaceutical company's stock worth $77,000 after purchasing an additional 1,520 shares during the period. Finally, Allworth Financial LP raised its position in Ultragenyx Pharmaceutical by 130.9% in the second quarter. Allworth Financial LP now owns 4,699 shares of the biopharmaceutical company's stock valued at $157,000 after purchasing an additional 2,664 shares during the period. Hedge funds and other institutional investors own 97.67% of the company's stock.

Analyst Upgrades and Downgrades

RARE has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered Ultragenyx Pharmaceutical from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $50.00 to $18.00 in a research note on Thursday, September 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, October 6th. Wall Street Zen upgraded shares of Ultragenyx Pharmaceutical from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Canaccord Genuity Group raised their target price on shares of Ultragenyx Pharmaceutical from $37.00 to $39.00 and gave the stock a "buy" rating in a research report on Friday, September 18th. Finally, TD Cowen reduced their target price on shares of Ultragenyx Pharmaceutical from $49.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $33.65.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic diseases. The company targets conditions with limited or no treatment options, including metabolic disorders, skeletal diseases and other inherited conditions. Its work includes the development of medicines, biologic therapies and gene therapy candidates intended to address the underlying causes or significant symptoms of these disorders.

Ultragenyx's commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Dojolvi (triheptanoin), a medical food used to manage long-chain fatty acid oxidation disorders; and Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII.

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