Two Sigma Investments LP Sells 140,735 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Two Sigma Investments LP cut its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 614,948 shares of the biopharmaceutical company’s stock after selling 140,735 shares during the quarter. Two Sigma Investments LP’s holdings in Ultragenyx Pharmaceutical were worth $25,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Van ECK Associates Corp lifted its position in Ultragenyx Pharmaceutical by 18.4% during the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 273 shares during the last quarter. BOKF NA lifted its holdings in shares of Ultragenyx Pharmaceutical by 5.0% in the 4th quarter. BOKF NA now owns 7,976 shares of the biopharmaceutical company’s stock worth $336,000 after acquiring an additional 382 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 493 shares during the last quarter. Arizona State Retirement System lifted its holdings 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 worth $1,011,000 after acquiring an additional 568 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 1.5% in the 4th quarter. Guggenheim Capital LLC now owns 45,222 shares of the biopharmaceutical company’s stock worth $1,902,000 after acquiring an additional 670 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RARE shares. Piper Sandler lowered their price objective on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, March 17th. JPMorgan Chase & Co. boosted their price objective on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. HC Wainwright restated a “buy” rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group boosted their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and an average target price of $90.93.

Ultragenyx Pharmaceutical Trading Down 5.2%

Shares of Ultragenyx Pharmaceutical stock opened at $35.41 on Thursday. The company’s fifty day simple moving average is $36.20 and its two-hundred day simple moving average is $41.46. The company has a market cap of $3.35 billion, a P/E ratio of -5.59 and a beta of 0.34. Ultragenyx Pharmaceutical Inc. has a 12-month low of $29.59 and a 12-month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.03). The company had revenue of $139.29 million for the quarter, compared to analysts’ expectations of $145.98 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.03) earnings per share. Analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 73,434 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $3,091,571.40. Following the sale, the chief executive officer now directly owns 641,731 shares of the company’s stock, valued at $27,016,875.10. This represents a 10.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Horn sold 1,785 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $40.40, for a total transaction of $72,114.00. Following the completion of the sale, the chief financial officer now directly owns 106,169 shares in the company, valued at $4,289,227.60. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,405 shares of company stock valued at $5,285,169 in the last three months. 5.50% of the stock is currently owned by company 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.