Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Down 6.5% Following Insider Selling

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) shares dropped 6.5% during trading on Tuesday following insider selling activity. The company traded as low as $22.65 and last traded at $22.6270. Approximately 837,769 shares were traded during trading, a decline of 62% from the average daily volume of 2,179,816 shares. The stock had previously closed at $24.19.

Specifically, Director Shehnaaz Suliman sold 5,740 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $25.12, for a total transaction of $144,188.80. Following the transaction, the director owned 27,951 shares in the company, valued at approximately $702,129.12. The trade was a 17.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. The Goldman Sachs Group lowered Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $61.00 to $25.00 in a research note on Tuesday, March 24th. HC Wainwright decreased their price target on Ultragenyx Pharmaceutical from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Wells Fargo & Company boosted their price target on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings raised Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. decreased their price target on Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.41.

Ultragenyx Pharmaceutical Trading Down 6.6%

The business has a 50 day moving average of $23.14 and a 200-day moving average of $26.38. The stock has a market cap of $2.23 billion, a PE ratio of -3.70 and a beta of 0.39.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The business had revenue of $136.00 million for the quarter, compared to analysts’ expectations of $158.19 million. During the same period in the prior year, the company earned ($1.57) EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -4.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Amundi purchased a new position in shares of Ultragenyx Pharmaceutical during the 1st quarter worth $318,000. EverSource Wealth Advisors LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 573.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 1,845 shares during the period. California State Teachers Retirement System lifted its stake in shares of Ultragenyx Pharmaceutical by 25.6% during the 1st quarter. California State Teachers Retirement System now owns 104,650 shares of the biopharmaceutical company’s stock worth $2,192,000 after purchasing an additional 21,313 shares during the period. Eagle Health Investments LP purchased a new position in shares of Ultragenyx Pharmaceutical during the 1st quarter worth $18,522,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Ultragenyx Pharmaceutical by 36.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 451,119 shares of the biopharmaceutical company’s stock worth $9,451,000 after purchasing an additional 119,950 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.