Fisher Asset Management LLC Sells 21,999 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Fisher Asset Management LLC lessened its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 10.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 185,756 shares of the biopharmaceutical company’s stock after selling 21,999 shares during the quarter. Fisher Asset Management LLC’s holdings in Ultragenyx Pharmaceutical were worth $6,754,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RARE. Parallel Advisors LLC increased its holdings in Ultragenyx Pharmaceutical by 1,061.9% in the 2nd quarter. Parallel Advisors LLC now owns 732 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 669 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $55,000. Headlands Technologies LLC bought a new position in Ultragenyx Pharmaceutical in the first quarter valued at approximately $59,000. Covestor Ltd raised its position in Ultragenyx Pharmaceutical by 86.8% during the first quarter. Covestor Ltd now owns 1,711 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 795 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Ultragenyx Pharmaceutical by 231.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,737 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 1,911 shares during the last quarter. Institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock opened at $36.54 on Friday. Ultragenyx Pharmaceutical Inc. has a 52-week low of $25.81 and a 52-week high of $50.00. The firm has a 50 day moving average price of $32.74 and a two-hundred day moving average price of $32.42. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of -6.15 and a beta of 0.16.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.58). The business had revenue of $159.93 million during the quarter, compared to the consensus estimate of $167.42 million. Ultragenyx Pharmaceutical had a negative return on equity of 414.17% and a negative net margin of 91.95%.The business’s revenue was up 14.6% on a year-over-year basis. During the same period last year, the business posted ($1.40) earnings per share. As a group, equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 7,942 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $31.51, for a total value of $250,252.42. Following the transaction, the chief financial officer directly owned 98,227 shares in the company, valued at $3,095,132.77. This trade represents a 7.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Karah Herdman Parschauer sold 2,450 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $31.17, for a total transaction of $76,366.50. Following the sale, the executive vice president owned 73,271 shares of the company’s stock, valued at $2,283,857.07. This trade represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 10,456 shares of company stock worth $328,486. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RARE has been the subject of a number of research analyst reports. Wells Fargo & Company initiated coverage on Ultragenyx Pharmaceutical in a report on Monday, October 20th. They set an “overweight” rating and a $65.00 price target for the company. Truist Financial lowered their target price on Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Canaccord Genuity Group dropped their target price on shares of Ultragenyx Pharmaceutical from $136.00 to $128.00 and set a “buy” rating for the company in a report on Friday, August 8th. TD Cowen decreased their price target on shares of Ultragenyx Pharmaceutical from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.23.

Ultragenyx Pharmaceutical Company Profile

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.