Sofinnova Investments Inc. Invests $1.92 Million in Ultragenyx Pharmaceutical Inc. $RARE

Sofinnova Investments Inc. purchased a new position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 83,300 shares of the biopharmaceutical company’s stock, valued at approximately $1,916,000. Sofinnova Investments Inc. owned about 0.09% of Ultragenyx Pharmaceutical as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of RARE. Assetmark Inc. lifted its position in shares of Ultragenyx Pharmaceutical by 1,706.7% in the 3rd quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 1,024 shares during the last quarter. Huntington National Bank increased its stake in Ultragenyx Pharmaceutical by 56.2% during the 3rd quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 393 shares during the period. Danske Bank A S acquired a new position in Ultragenyx Pharmaceutical during the 3rd quarter valued at about $39,000. Smartleaf Asset Management LLC increased its stake in Ultragenyx Pharmaceutical by 205.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,738 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 1,169 shares during the period. Finally, Empowered Funds LLC acquired a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter worth approximately $66,000. 97.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Howard Horn sold 4,683 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $24.90, for a total value of $116,606.70. Following the completion of the transaction, the chief financial officer directly owned 110,342 shares in the company, valued at approximately $2,747,515.80. The trade was a 4.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $25.05, for a total value of $50,100.00. Following the completion of the transaction, the director owned 21,095 shares of the company’s stock, valued at $528,429.75. This represents a 8.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,002 shares of company stock valued at $575,039 over the last 90 days. 5.20% of the stock is owned by company insiders.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock opened at $25.38 on Tuesday. The stock has a market cap of $2.50 billion, a PE ratio of -4.15 and a beta of 0.37. The stock has a 50-day moving average of $24.04 and a 200-day moving average of $25.02. Ultragenyx Pharmaceutical Inc. has a one year low of $18.29 and a one year high of $42.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS 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 during the quarter, compared to the consensus estimate of $158.19 million. During the same period last year, the company earned ($1.57) earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -4.53 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RARE shares. Wells Fargo & Company lifted their price objective on shares of Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group cut shares of 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 report on Tuesday, March 24th. Morgan Stanley raised their price objective on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Cantor Fitzgerald lifted their price target on shares of Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Finally, Canaccord Genuity Group dropped their target price on shares of Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.56.

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.