SummitTX Capital L.P. Invests $7.29 Million in Ultragenyx Pharmaceutical Inc. $RARE

SummitTX Capital L.P. acquired a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 347,760 shares of the biopharmaceutical company’s stock, valued at approximately $7,286,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RARE. CANADA LIFE ASSURANCE Co raised its holdings in Ultragenyx Pharmaceutical by 2.0% during the third quarter. CANADA LIFE ASSURANCE Co now owns 26,932 shares of the biopharmaceutical company’s stock worth $817,000 after acquiring an additional 534 shares in the last quarter. Van ECK Associates Corp grew its stake in Ultragenyx Pharmaceutical by 26.1% in the third quarter. Van ECK Associates Corp now owns 2,650 shares of the biopharmaceutical company’s stock valued at $80,000 after purchasing an additional 549 shares in the last quarter. Tidal Investments LLC increased its position in shares of Ultragenyx Pharmaceutical by 4.7% during the 2nd quarter. Tidal Investments LLC now owns 12,591 shares of the biopharmaceutical company’s stock worth $458,000 after purchasing an additional 564 shares during the last quarter. Rafferty Asset Management LLC increased its position in shares of Ultragenyx Pharmaceutical by 0.4% during the 4th quarter. Rafferty Asset Management LLC now owns 157,061 shares of the biopharmaceutical company’s stock worth $3,612,000 after purchasing an additional 577 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Ultragenyx Pharmaceutical by 43.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 751 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wall Street Zen raised Ultragenyx Pharmaceutical from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Barclays lowered their target price on shares of Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Wells Fargo & Company upped their price target on shares of Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. Finally, Wedbush decreased their price objective on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. 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 issued a Sell rating to the stock. According to data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $58.41.

Ultragenyx Pharmaceutical Price Performance

RARE opened at $26.90 on Monday. Ultragenyx Pharmaceutical Inc. has a 12-month low of $18.29 and a 12-month high of $39.89. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -4.40 and a beta of 0.31. The business has a 50 day moving average of $27.45 and a 200-day moving average of $24.65.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing the consensus estimate of ($1.49) by ($0.35). The business had revenue of $136.00 million for the quarter, compared to the consensus estimate of $158.19 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The business’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.57) earnings per share. As a group, analysts expect that Ultragenyx Pharmaceutical Inc. will post -4.53 earnings per share for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In other news, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.62, for a total value of $46,753.38. Following the transaction, the executive vice president directly owned 94,462 shares of the company’s stock, valued at $2,325,654.44. This represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Howard Horn sold 4,683 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $24.90, for a total transaction of $116,606.70. Following the sale, the chief financial officer owned 110,342 shares of the company’s stock, valued at approximately $2,747,515.80. This represents a 4.07% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 19,319 shares of company stock valued at $476,837. 5.20% of the stock is owned by company insiders.

Ultragenyx Pharmaceutical 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.