Ultragenyx Pharmaceutical Sees Unusually Large Options Volume (NASDAQ:RARE)

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) was the target of some unusual options trading on Wednesday. Investors purchased 10,022 put options on the company. This represents an increase of approximately 793% compared to the typical volume of 1,122 put options.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RARE shares. Wedbush dropped their target price on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Royal Bank Of Canada raised their price target on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday. Cantor Fitzgerald upped their price objective on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Morgan Stanley increased their target price on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Finally, Wells Fargo & Company lifted their target price on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.41.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock traded down $0.98 during trading hours on Wednesday, reaching $34.89. The company had a trading volume of 439,182 shares, compared to its average volume of 2,280,507. The business has a fifty day moving average price of $26.10 and a 200-day moving average price of $24.48. Ultragenyx Pharmaceutical has a one year low of $18.29 and a one year high of $42.37. The firm has a market cap of $3.44 billion, a PE ratio of -5.71 and a beta of 0.31.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data 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 net margin of 91.03% and a negative return on equity of 1,024.42%. The company had revenue of $136.00 million for the quarter, compared to the consensus estimate of $158.19 million. During the same quarter last year, the company earned ($1.57) EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities research analysts forecast that Ultragenyx Pharmaceutical will post -4.53 EPS for the current year.

Insider Buying and Selling

In other news, CFO Howard Horn sold 4,653 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $23.77, for a total value of $110,601.81. Following the completion of the transaction, the chief financial officer owned 105,689 shares of the company’s stock, valued at $2,512,227.53. The trade was a 4.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $25.05, for a total transaction of $50,100.00. Following the completion of the transaction, the director owned 21,095 shares in the company, valued at approximately $528,429.75. The trade was a 8.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 19,319 shares of company stock valued at $476,837. 5.20% of the stock is owned by insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC boosted its position in Ultragenyx Pharmaceutical by 778.4% in the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 1,440 shares during the last quarter. Leonteq Securities AG lifted its stake in shares of Ultragenyx Pharmaceutical by 288.5% in the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,333 shares during the period. Versant Capital Management Inc grew its position in Ultragenyx Pharmaceutical by 662.9% during the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,001 shares during the period. Danske Bank A S bought a new position in Ultragenyx Pharmaceutical in the third quarter worth approximately $39,000. Finally, EverSource Wealth Advisors LLC boosted 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 acquiring an additional 1,845 shares during the last quarter. 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.