Short Interest in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Drops By 19.9%

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) saw a large decrease in short interest in September. As of September 30th, there was short interest totalling 2,890,000 shares, a decrease of 19.9% from the September 15th total of 3,610,000 shares. Based on an average daily trading volume, of 705,100 shares, the short-interest ratio is presently 4.1 days.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $50.17, for a total transaction of $1,003,400.00. Following the transaction, the chief executive officer now owns 2,243,985 shares in the company, valued at approximately $112,580,727.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $50.17, for a total transaction of $1,003,400.00. Following the completion of the sale, the chief executive officer now owns 2,243,985 shares of the company’s stock, valued at approximately $112,580,727.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Howard Horn sold 7,465 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the transaction, the chief financial officer now directly owns 92,301 shares in the company, valued at $4,869,800.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,556 shares of company stock valued at $2,519,367 in the last ninety days. Corporate insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in shares of Ultragenyx Pharmaceutical during the first quarter worth approximately $28,000. nVerses Capital LLC acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth $33,000. UMB Bank n.a. grew its holdings in shares of Ultragenyx Pharmaceutical by 58.1% during the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 352 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Ultragenyx Pharmaceutical by 622.3% in the first quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 865 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 67.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 1,339 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $111.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $116.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, October 1st. The Goldman Sachs Group boosted their price target on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company upped their price objective on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $87.43.

Ultragenyx Pharmaceutical Stock Up 2.3 %

RARE opened at $55.10 on Monday. The firm’s fifty day simple moving average is $55.06 and its two-hundred day simple moving average is $47.22. Ultragenyx Pharmaceutical has a 52-week low of $31.52 and a 52-week high of $60.37. The company has a market cap of $4.58 billion, a price-to-earnings ratio of -6.86 and a beta of 0.57.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The firm had revenue of $147.03 million for the quarter, compared to analyst estimates of $123.20 million. During the same period last year, the company posted ($2.25) EPS. Ultragenyx Pharmaceutical’s quarterly revenue was up 35.7% compared to the same quarter last year. On average, research analysts forecast that Ultragenyx Pharmaceutical will post -6.24 EPS for the current year.

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.