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

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

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 2,243,985 shares of the company’s stock, valued at $112,580,727.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $50.17, for a total value of $1,003,400.00. Following the sale, the chief executive officer now directly owns 2,243,985 shares in the company, valued at $112,580,727.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,556 shares of company stock valued at $2,519,367. 5.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

Several research firms have recently weighed in on RARE. Wedbush boosted their target price on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their target price on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Thursday, September 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.43.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock opened at $55.10 on Monday. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of -6.86 and a beta of 0.57. The firm’s 50-day moving average is $55.06 and its two-hundred day moving average is $47.22. Ultragenyx Pharmaceutical has a 1 year low of $31.52 and a 1 year high of $60.37.

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