Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Cross Below 50-Day Moving Average - Time to Sell?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $36.61 and traded as low as $36.08. Ultragenyx Pharmaceutical shares last traded at $36.36, with a volume of 906,897 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler reduced their price objective on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. Guggenheim reiterated a "buy" rating and issued a $64.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, June 20th. Morgan Stanley boosted their price target on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, May 9th. JPMorgan Chase & Co. upped their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Finally, William Blair initiated coverage on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, May 28th. They issued an "outperform" rating and a $65.00 price objective on the stock. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.00.

Ultragenyx Pharmaceutical Stock Down 0.3%

The business has a 50-day simple moving average of $36.61 and a two-hundred day simple moving average of $39.14. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of -6.17 and a beta of 0.25.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($0.03). The business had revenue of $139.29 million for the quarter, compared to the consensus estimate of $145.98 million. Ultragenyx Pharmaceutical had a negative net margin of 93.04% and a negative return on equity of 186.49%. During the same quarter last year, the business posted ($2.03) EPS. The business's revenue for the quarter was up 28.0% on a year-over-year basis. On average, analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $37.39, for a total value of $89,922.95. Following the transaction, the director owned 15,344 shares of the company's stock, valued at approximately $573,712.16. This represents a 13.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 3,167 shares of company stock valued at $118,824 in the last quarter. Insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in Ultragenyx Pharmaceutical by 4.1% in the 4th quarter. Principal Financial Group Inc. now owns 89,955 shares of the biopharmaceutical company's stock worth $3,784,000 after purchasing an additional 3,515 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of Ultragenyx Pharmaceutical in the fourth quarter worth about $11,156,000. Smartleaf Asset Management LLC increased its position in shares of Ultragenyx Pharmaceutical by 259.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 493 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ultragenyx Pharmaceutical by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 613,633 shares of the biopharmaceutical company's stock valued at $25,816,000 after acquiring an additional 19,112 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Ultragenyx Pharmaceutical by 2.4% in the 4th quarter. Arizona State Retirement System now owns 24,038 shares of the biopharmaceutical company's stock valued at $1,011,000 after acquiring an additional 568 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

About Ultragenyx Pharmaceutical

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.