Insider Selling: Ultragenyx Pharmaceutical (NASDAQ:RARE) CFO Sells 4,653 Shares of Stock

Key Points

• Ultragenyx Pharmaceutical CFO Howard Horn sold 4,653 shares on June 1 at an average price of $23.77, for proceeds of about $110,602. After the sale, he still owned 105,689 shares valued at roughly $2.51 million.
• The CFO has been trimming his stake repeatedly, with additional sales earlier this year in March, April, and May, signaling ongoing insider selling activity.
• Ultragenyx reported a wider-than-expected quarterly loss, posting EPS of -$1.84 versus estimates of -$1.49 and revenue of $136 million versus expectations of $158.19 million, while analysts still hold a consensus rating of “Moderate Buy.”

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) CFO Howard Horn sold 4,653 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $23.77, for a total value of $110,601.81. Following the completion of the sale, the chief financial officer directly owned 105,689 shares of the company's stock, valued at $2,512,227.53. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Howard Horn also recently made the following trade(s):

• On Friday, May 1st, Howard Horn sold 4,683 shares of Ultragenyx Pharmaceutical stock. The stock was sold at an average price of $24.90, for a total value of $116,606.70.
• On Wednesday, April 1st, Howard Horn sold 4,683 shares of Ultragenyx Pharmaceutical stock. The stock was sold at an average price of $20.97, for a total value of $98,202.51.
• On Tuesday, March 3rd, Howard Horn sold 1,635 shares of Ultragenyx Pharmaceutical stock. The stock was sold at an average price of $22.40, for a total value of $36,624.00.

Ultragenyx Pharmaceutical Stock Performance

RARE traded down $1.09 during midday trading on Monday, reaching $22.85. 2,327,481 shares of the company were exchanged, compared to its average volume of 1,556,020. Ultragenyx Pharmaceutical Inc. has a one year low of $18.29 and a one year high of $42.37. The company's fifty day moving average price is $23.47 and its 200 day moving average price is $25.71. The company has a market cap of $2.25 billion, a price-to-earnings ratio of -3.74 and a beta of 0.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its 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). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The business had revenue of $136.00 million during the quarter, compared to analysts' expectations of $158.19 million. During the same quarter in the previous year, the firm earned ($1.57) EPS. Ultragenyx Pharmaceutical's quarterly revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -4.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wedbush dropped their price objective on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 6th. Wells Fargo & Company upped their price objective on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. dropped their price objective on Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an "overweight" rating on the stock in a research note on Thursday, March 12th. HC Wainwright dropped their price objective on Ultragenyx Pharmaceutical from $60.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, February 17th. Finally, Wall Street Zen downgraded Ultragenyx Pharmaceutical from a "hold" rating to a "strong sell" rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ultragenyx Pharmaceutical has an average rating of "Moderate Buy" and a consensus price target of $59.56.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RARE. Assetmark Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 1,706.7% during the third quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company's stock valued at $33,000 after buying an additional 1,024 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Ultragenyx Pharmaceutical by 56.2% during the third quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 393 shares during the period. Danske Bank A S purchased a new stake in shares of Ultragenyx Pharmaceutical during the third quarter worth about $39,000. Parallel Advisors LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 778.4% during the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 1,440 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 205.4% during the third quarter. Smartleaf Asset Management LLC now owns 1,738 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 1,169 shares during the period. Institutional investors own 97.67% of the company's stock.

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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