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

Seven Eight Capital LP trimmed its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 75.3% in the 2nd quarter, Holdings Channel reports. The fund owned 11,760 shares of the biopharmaceutical company’s stock after selling 35,796 shares during the quarter. Seven Eight Capital LP’s holdings in Ultragenyx Pharmaceutical were worth $483,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $36,846,000. Trexquant Investment LP boosted its holdings in Ultragenyx Pharmaceutical by 81.1% in the fourth quarter. Trexquant Investment LP now owns 53,500 shares of the biopharmaceutical company’s stock worth $2,558,000 after acquiring an additional 23,952 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 13.3% in the fourth quarter. Franklin Resources Inc. now owns 214,738 shares of the biopharmaceutical company’s stock worth $10,269,000 after acquiring an additional 25,144 shares during the last quarter. Pier 88 Investment Partners LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 76.3% during the fourth quarter. Pier 88 Investment Partners LLC now owns 20,590 shares of the biopharmaceutical company’s stock valued at $985,000 after acquiring an additional 8,910 shares in the last quarter. Finally, TD Asset Management Inc raised its position in shares of Ultragenyx Pharmaceutical by 7.8% in the 4th quarter. TD Asset Management Inc now owns 221,360 shares of the biopharmaceutical company’s stock worth $10,585,000 after purchasing an additional 16,000 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Trading Down 0.1 %

Shares of RARE stock opened at $58.75 on Monday. Ultragenyx Pharmaceutical Inc. has a 12 month low of $31.52 and a 12 month high of $60.37. The stock has a market cap of $4.88 billion, a P/E ratio of -7.32 and a beta of 0.56. The company has a 50 day simple moving average of $52.03 and a two-hundred day simple moving average of $46.42.

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

Analyst Ratings Changes

A number of research firms have weighed in on RARE. The Goldman Sachs Group raised their price objective 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. Robert W. Baird upped their price objective on Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Wedbush lifted their target price on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Bank of America lowered their price target on Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. Two research 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, the company currently has an average rating of “Moderate Buy” and an average target price of $87.43.

Insiders Place Their Bets

In related news, CEO Emil D. Kakkis sold 20,000 shares of the business’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 transaction 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 filing with the SEC, which is available at this hyperlink. Insiders sold a total of 40,675 shares of company stock worth $2,149,446 over the last quarter. 5.80% of the stock is currently owned by corporate insiders.

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.