Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Sold by Vestal Point Capital LP

Vestal Point Capital LP decreased its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 58.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 750,000 shares of the biopharmaceutical company’s stock after selling 1,050,000 shares during the quarter. Ultragenyx Pharmaceutical comprises 3.2% of Vestal Point Capital LP’s holdings, making the stock its 10th biggest position. Vestal Point Capital LP’s holdings in Ultragenyx Pharmaceutical were worth $41,662,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of RARE. Millennium Management LLC raised its position in Ultragenyx Pharmaceutical by 103.8% in the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after purchasing an additional 942,529 shares during the last quarter. Alkeon Capital Management LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 34.3% in the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after buying an additional 769,884 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth about $17,468,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Ultragenyx Pharmaceutical by 63.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 830,375 shares of the biopharmaceutical company’s stock valued at $34,128,000 after acquiring an additional 323,280 shares during the period. Finally, First Light Asset Management LLC raised its stake in Ultragenyx Pharmaceutical by 21.8% during the 2nd quarter. First Light Asset Management LLC now owns 963,146 shares of the biopharmaceutical company’s stock valued at $39,585,000 after acquiring an additional 172,700 shares during the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RARE. Wedbush boosted their target price on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lowered their target price on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Barclays reduced their price target on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, HC Wainwright increased their price objective on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.46.

Ultragenyx Pharmaceutical Stock Performance

RARE opened at $48.13 on Friday. Ultragenyx Pharmaceutical Inc. has a 1 year low of $37.02 and a 1 year high of $60.37. The company’s 50 day simple moving average is $52.26 and its 200 day simple moving average is $48.57. The stock has a market capitalization of $4.44 billion, a PE ratio of -7.44 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. The business had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The business’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.23) EPS. As a group, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the transaction, the chief financial officer now directly owns 92,301 shares in the company, valued at approximately $4,869,800.76. This represents a 7.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,556 shares of company stock worth $1,515,967 over the last three months. 5.80% of the stock is owned by insiders.

Ultragenyx Pharmaceutical 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.