Thomas Richard Kassberg Sells 6,028 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Stock

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) EVP Thomas Richard Kassberg sold 6,028 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $253,778.80. Following the completion of the transaction, the executive vice president now owns 265,238 shares in the company, valued at $11,166,519.80. The trade was a 2.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE opened at $40.87 on Thursday. The stock has a market cap of $3.78 billion, a PE ratio of -6.45 and a beta of 0.60. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $37.02 and a fifty-two week high of $60.37. The firm’s 50-day simple moving average is $42.80 and its two-hundred day simple moving average is $48.94.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The business had revenue of $164.88 million during the quarter, compared to analysts’ expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. Equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently bought and sold shares of RARE. Norges Bank purchased a new stake in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $40,463,000. Alkeon Capital Management LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 34.3% during the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after buying an additional 769,884 shares during the last quarter. Vestal Point Capital LP grew its holdings in shares of Ultragenyx Pharmaceutical by 100.0% during the fourth quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $63,105,000 after buying an additional 750,000 shares during the last quarter. Deep Track Capital LP purchased a new stake in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $27,493,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Ultragenyx Pharmaceutical by 125.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company’s stock valued at $49,375,000 after buying an additional 653,088 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Wall Street Analyst Weigh In

RARE has been the topic of a number of analyst reports. Piper Sandler boosted their price objective on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Canaccord Genuity Group boosted their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $93.50.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.