Vestal Point Capital LP Sells 1,050,000 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Vestal Point Capital LP lessened its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 58.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 750,000 shares of the biopharmaceutical company’s stock after selling 1,050,000 shares during the quarter. Ultragenyx Pharmaceutical accounts for about 3.2% of Vestal Point Capital LP’s portfolio, making the stock its 10th largest holding. Vestal Point Capital LP owned about 0.81% of Ultragenyx Pharmaceutical worth $41,662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in Ultragenyx Pharmaceutical by 103.8% in the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after acquiring an additional 942,529 shares during the period. Alkeon Capital Management LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 34.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after purchasing an additional 769,884 shares during the period. Frazier Life Sciences Management L.P. acquired a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at $17,468,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Ultragenyx Pharmaceutical by 63.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 830,375 shares of the biopharmaceutical company’s stock worth $34,128,000 after buying an additional 323,280 shares in the last quarter. Finally, First Light Asset Management LLC grew its position in Ultragenyx Pharmaceutical by 21.8% during the second quarter. First Light Asset Management LLC now owns 963,146 shares of the biopharmaceutical company’s stock valued at $39,585,000 after buying an additional 172,700 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at $124,209,562.25. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the sale, the chief financial officer now owns 92,301 shares of the company’s stock, valued at $4,869,800.76. This represents a 7.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,556 shares of company stock valued at $1,515,967. Insiders own 5.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RARE. Wells Fargo & Company raised their target price on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. TD Cowen boosted their price objective on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 21st. 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 report on Friday, August 2nd. Canaccord Genuity Group reissued a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. Finally, Barclays reduced their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.46.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE opened at $48.13 on Friday. Ultragenyx Pharmaceutical Inc. has a 1 year low of $37.02 and a 1 year high of $60.37. The company’s 50-day simple moving average is $52.26 and its 200-day simple moving average is $48.57. The stock has a market capitalization of $4.44 billion, a PE ratio of -7.44 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The company had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. During the same quarter in the prior year, the business earned ($2.23) EPS. Ultragenyx Pharmaceutical’s revenue was up 42.3% on a year-over-year basis. On average, sell-side analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current year.

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.