Theodore Alan Huizenga Sells 1,283 Shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock

Key Points

• Insider sale: Chief Accounting Officer Theodore Alan Huizenga sold 1,283 Ultragenyx shares for approximately $17,410, reducing his stake by 1.86% to 67,863 shares. He also sold 161 shares earlier in September.
• Stock performance and results: RARE fell to $13.07, near its 52-week low of $12.88. Despite continued losses, the company beat quarterly earnings expectations and reported revenue of $214 million, up 28.5% year over year.
• Analyst outlook: Several firms cut their price targets and ratings, but the stock retains a consensus “Moderate Buy” rating with an average target price of $36.63. Institutional investors own 97.67% of the shares.

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) CAO Theodore Huizenga sold 1,283 shares of the firm's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $13.57, for a total transaction of $17,410.31. Following the completion of the sale, the chief accounting officer owned 67,863 shares of the company's stock, valued at approximately $920,900.91. The trade was a 1.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Theodore Alan Huizenga also recently made the following trade(s):

• On Thursday, September 3rd, Theodore Huizenga sold 161 shares of Ultragenyx Pharmaceutical stock. The shares were sold at an average price of $13.99, for a total value of $2,252.39.

Ultragenyx Pharmaceutical Price Performance

NASDAQ RARE traded down $0.54 on Tuesday, hitting $13.07. 5,641,382 shares of the company's stock were exchanged, compared to its average volume of 2,527,528. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -2.24 and a beta of 0.31. The firm's 50-day moving average price is $25.56 and its two-hundred day moving average price is $24.70. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $12.88 and a fifty-two week high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating analysts' consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The firm had revenue of $214.00 million for the quarter, compared to the consensus estimate of $183.08 million. During the same period in the previous year, the business earned ($1.17) earnings per share. The company's revenue for the quarter was up 28.5% compared to the same quarter last year. On average, research analysts predict that Ultragenyx Pharmaceutical Inc. will post -3.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc grew its stake in Ultragenyx Pharmaceutical by 662.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company's stock valued at $38,000 after acquiring an additional 1,001 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter valued at about $48,000. Harbor Investment Advisory LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter valued at about $52,000. Parallel Advisors LLC grew its position in shares of Ultragenyx Pharmaceutical by 778.4% in the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 1,440 shares during the last quarter. Finally, Leonteq Securities AG increased its stake in shares of Ultragenyx Pharmaceutical by 288.5% during the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 1,333 shares in the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RARE. Wells Fargo & Company downgraded shares of Ultragenyx Pharmaceutical from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $50.00 to $18.00 in a report on Thursday, September 3rd. HC Wainwright lowered their target price on shares of Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, September 3rd. JPMorgan Chase & Co. cut shares of Ultragenyx Pharmaceutical from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $80.00 to $36.00 in a report on Thursday, September 3rd. Cantor Fitzgerald reduced their price target on shares of Ultragenyx Pharmaceutical from $103.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, September 3rd. Finally, Guggenheim decreased their price target on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $36.63.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company's work includes therapies for genetic, metabolic and skeletal disorders, with an emphasis on conditions that have limited or no effective treatment options.

Ultragenyx's marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Dojolvi (triheptanoin), a medical food for long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab), a treatment for homozygous familial hypercholesterolemia.

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