Moore Capital Management LP Reduces Holdings in Ultragenyx Pharmaceutical Inc. $RARE

Moore Capital Management LP trimmed its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 18.5% in the second quarter, HoldingsChannel.com reports. The fund owned 128,035 shares of the biopharmaceutical company’s stock after selling 29,097 shares during the quarter. Moore Capital Management LP’s holdings in Ultragenyx Pharmaceutical were worth $4,275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RARE. BlackRock Inc. purchased a new position in Ultragenyx Pharmaceutical during the second quarter worth about $355,746,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at about $6,397,000. Deutsche Bank AG acquired a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at about $5,503,000. Blue Owl Capital Holdings LP purchased a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth about $6,098,000. Finally, Ieq Capital LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the second quarter worth approximately $3,540,000. 97.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $25.05, for a total transaction of $50,100.00. Following the transaction, the director owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. This trade represents a 8.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.62, for a total transaction of $46,753.38. Following the transaction, the executive vice president owned 94,462 shares of the company’s stock, valued at approximately $2,325,654.44. This trade represents a 1.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

RARE has been the subject of a number of recent analyst reports. Cantor Fitzgerald boosted their target price on shares of Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. Royal Bank Of Canada lifted their price target on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Canaccord Genuity Group boosted their price objective on shares of Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Wall Street Zen upgraded Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Wedbush cut their target price on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.44.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE opened at $25.21 on Tuesday. Ultragenyx Pharmaceutical Inc. has a one year low of $18.29 and a one year high of $39.89. The company has a market capitalization of $2.49 billion, a P/E ratio of -4.32 and a beta of 0.35. The stock has a 50-day moving average price of $28.47 and a 200 day moving average price of $25.04.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The business had revenue of $214.00 million during the quarter, compared to the consensus estimate of $183.08 million. During the same period in the previous year, the business earned ($1.17) EPS. The business’s quarterly revenue was up 28.5% on a year-over-year basis. As a group, equities research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -3.97 earnings per share for the current fiscal year.

About Ultragenyx Pharmaceutical

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.