Y Intercept Hong Kong Ltd Buys Shares of 218,354 Ultragenyx Pharmaceutical Inc. $RARE

Y Intercept Hong Kong Ltd purchased a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the first quarter, Holdings Channel reports. The fund purchased 218,354 shares of the biopharmaceutical company’s stock, valued at approximately $4,575,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Leonteq Securities AG grew its stake in shares of Ultragenyx Pharmaceutical by 288.5% in the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,333 shares in the last quarter. Danske Bank A S acquired a new position in Ultragenyx Pharmaceutical during the 3rd quarter worth about $39,000. Aster Capital Management DIFC Ltd acquired a new position in Ultragenyx Pharmaceutical during the 4th quarter worth about $56,000. Smartleaf Asset Management LLC boosted its holdings in Ultragenyx Pharmaceutical by 43.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 751 shares during the period. Finally, Empowered Funds LLC purchased a new position in Ultragenyx Pharmaceutical during the 4th quarter valued at about $66,000. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ RARE opened at $33.47 on Monday. The company has a market cap of $3.30 billion, a price-to-earnings ratio of -5.48 and a beta of 0.31. The stock’s 50-day moving average is $25.68 and its two-hundred day moving average is $24.47. Ultragenyx Pharmaceutical Inc. has a 1-year low of $18.29 and a 1-year high of $42.37.

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

Analysts Set New Price Targets

RARE has been the topic of a number of recent research reports. Barclays cut their price target on shares of Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Cantor Fitzgerald raised their price objective on shares of Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. The Goldman Sachs Group cut shares of Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $61.00 to $25.00 in a report on Tuesday, March 24th. Weiss Ratings lowered shares of Ultragenyx Pharmaceutical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $59.56.

Insider Activity

In related news, CFO Howard Horn sold 4,653 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $23.77, for a total value of $110,601.81. Following the sale, the chief financial officer owned 105,689 shares of the company’s stock, valued at $2,512,227.53. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shehnaaz Suliman sold 5,740 shares of Ultragenyx Pharmaceutical 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 completion of the transaction, the director owned 27,951 shares of the company’s stock, valued at $702,129.12. This represents a 17.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,319 shares of company stock worth $476,837 in the last ninety days. 5.20% of the stock is owned by insiders.

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.