Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,686 shares of the biopharmaceutical company’s stock after selling 1,615 shares during the period. Truist Financial Corp’s holdings in Ultragenyx Pharmaceutical were worth $450,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Alkeon Capital Management LLC raised 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 worth $167,301,000 after purchasing an additional 769,884 shares during the period. Baker BROS. Advisors LP raised its holdings in shares of Ultragenyx Pharmaceutical by 7.5% during the third quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company’s stock worth $87,553,000 after purchasing an additional 109,567 shares during the period. Geode Capital Management LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 4.4% during the third quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock worth $87,296,000 after purchasing an additional 65,623 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Ultragenyx Pharmaceutical by 123.4% during the third quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock worth $54,872,000 after purchasing an additional 545,600 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of Ultragenyx Pharmaceutical by 35.9% during the third quarter. Point72 Asset Management L.P. now owns 653,660 shares of the biopharmaceutical company’s stock worth $36,311,000 after purchasing an additional 172,711 shares during the period. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Trading Down 3.9 %

Shares of NASDAQ RARE opened at $41.26 on Tuesday. Ultragenyx Pharmaceutical Inc. has a twelve month low of $37.02 and a twelve month high of $60.37. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -6.51 and a beta of 0.60. The firm has a 50-day moving average of $42.91 and a two-hundred day moving average of $49.10.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results 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). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The business had revenue of $164.88 million during the quarter, compared to analyst estimates of $163.23 million. As a group, research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the sale, the chief executive officer now directly owns 2,183,985 shares of the company’s stock, valued at approximately $92,229,686.55. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Karah Herdman Parschauer sold 2,990 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $42.88, for a total transaction of $128,211.20. Following the sale, the executive vice president now directly owns 54,991 shares of the company’s stock, valued at $2,358,014.08. This represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,990 shares of company stock valued at $1,037,092. 5.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on RARE. Canaccord Genuity Group increased their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $118.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Piper Sandler upped their price target on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company upped their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $93.50.

About Ultragenyx Pharmaceutical

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.