Seven Eight Capital LP Sells 35,796 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Seven Eight Capital LP decreased its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 75.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,760 shares of the biopharmaceutical company’s stock after selling 35,796 shares during the period. Seven Eight Capital LP’s holdings in Ultragenyx Pharmaceutical were worth $483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Ultragenyx Pharmaceutical by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock valued at $406,203,000 after acquiring an additional 26,575 shares in the last quarter. RTW Investments LP lifted its position in Ultragenyx Pharmaceutical by 27.4% during the fourth quarter. RTW Investments LP now owns 6,887,086 shares of the biopharmaceutical company’s stock valued at $329,340,000 after purchasing an additional 1,481,997 shares during the last quarter. Sands Capital Management LLC grew its stake in Ultragenyx Pharmaceutical by 59.8% in the 4th quarter. Sands Capital Management LLC now owns 4,118,008 shares of the biopharmaceutical company’s stock worth $196,923,000 after buying an additional 1,540,791 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Ultragenyx Pharmaceutical by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock worth $166,632,000 after buying an additional 120,175 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Ultragenyx Pharmaceutical by 0.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock valued at $112,096,000 after buying an additional 17,362 shares in the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

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 on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 40,675 shares of company stock worth $2,149,446 over the last quarter. Corporate insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Trading Down 0.1 %

Ultragenyx Pharmaceutical stock opened at $58.75 on Monday. The firm has a market cap of $4.88 billion, a P/E ratio of -7.32 and a beta of 0.56. Ultragenyx Pharmaceutical Inc. has a 1-year low of $31.52 and a 1-year high of $60.37. The firm has a 50-day moving average of $52.03 and a 200-day moving average of $46.42.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping the consensus estimate of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The business had revenue of $147.03 million during the quarter, compared to analysts’ expectations of $123.20 million. During the same quarter last year, the business posted ($2.25) EPS. The business’s revenue was up 35.7% on a year-over-year basis. Research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. The Goldman Sachs Group increased their target price on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays decreased their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Monday, September 16th. Canaccord Genuity Group reissued a “buy” rating and set a $111.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, July 23rd. Finally, Stifel Nicolaus upped their price objective on shares of Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.43.

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.