Ieq Capital LLC Buys Shares of 106,026 Ultragenyx Pharmaceutical Inc. $RARE

Ieq Capital LLC bought a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the second quarter, HoldingsChannel reports. The fund bought 106,026 shares of the biopharmaceutical company’s stock, valued at approximately $3,540,000.

A number of other large investors also recently modified their holdings of RARE. Parallel Advisors LLC increased its holdings in Ultragenyx Pharmaceutical by 778.4% in the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 1,440 shares in the last quarter. Leonteq Securities AG increased its stake in shares of Ultragenyx Pharmaceutical by 288.5% in the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,333 shares during the period. Versant Capital Management Inc increased its stake in shares of Ultragenyx Pharmaceutical by 662.9% in the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,001 shares during the period. Danske Bank A S bought a new position in Ultragenyx Pharmaceutical in the 3rd quarter valued at approximately $39,000. Finally, EverSource Wealth Advisors LLC boosted its position in Ultragenyx Pharmaceutical by 573.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 1,845 shares during the period. 97.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RARE has been the topic of a number of research reports. Barclays reduced their target price on shares of Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Citigroup lifted their price target on shares of Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Canaccord Genuity Group increased their price objective on Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Guggenheim cut their target price on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.89.

Ultragenyx Pharmaceutical Trading Down 0.4%

Shares of Ultragenyx Pharmaceutical stock opened at $25.72 on Tuesday. The business has a 50-day moving average price of $28.59 and a two-hundred day moving average price of $24.98. Ultragenyx Pharmaceutical Inc. has a 1-year low of $18.29 and a 1-year high of $39.89. The company has a market cap of $2.54 billion, a P/E ratio of -4.40 and a beta of 0.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32. The firm had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $183.08 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The company’s revenue for the quarter was up 28.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.17) EPS. Equities research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -4.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, June 15th. The shares were sold at an average price of $25.05, for a total value of $50,100.00. Following the completion of the sale, the director directly owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. The trade was a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Howard Horn sold 4,653 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $23.77, for a total transaction of $110,601.81. Following the transaction, the chief financial officer directly owned 105,689 shares in the company, valued at $2,512,227.53. This trade represents a 4.22% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 8,552 shares of company stock worth $207,455. 5.20% of the stock is currently owned by company insiders.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.