Ultragenyx Pharmaceutical Inc. $RARE Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 58.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,613 shares of the biopharmaceutical company’s stock after selling 29,303 shares during the period. Voya Investment Management LLC’s holdings in Ultragenyx Pharmaceutical were worth $620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Comerica Bank increased its stake in shares of Ultragenyx Pharmaceutical by 464.2% in the first quarter. Comerica Bank now owns 7,352 shares of the biopharmaceutical company’s stock worth $266,000 after buying an additional 6,049 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Ultragenyx Pharmaceutical in the 1st quarter worth about $4,400,000. Alyeska Investment Group L.P. raised its stake in shares of Ultragenyx Pharmaceutical by 3.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,495,351 shares of the biopharmaceutical company’s stock valued at $54,147,000 after purchasing an additional 55,611 shares in the last quarter. Cinctive Capital Management LP lifted its position in shares of Ultragenyx Pharmaceutical by 22.7% during the first quarter. Cinctive Capital Management LP now owns 77,261 shares of the biopharmaceutical company’s stock worth $2,798,000 after purchasing an additional 14,301 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Ultragenyx Pharmaceutical by 2.2% during the first quarter. Millennium Management LLC now owns 712,393 shares of the biopharmaceutical company’s stock worth $25,796,000 after purchasing an additional 15,157 shares during 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 news, CFO Howard Horn sold 3,081 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $36.38, for a total transaction of $112,086.78. Following the sale, the chief financial officer owned 95,146 shares of the company’s stock, valued at approximately $3,461,411.48. The trade was a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 11,108 shares of company stock valued at $365,262 in the last quarter. 5.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RARE. TD Cowen lowered their price objective on Ultragenyx Pharmaceutical from $86.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $105.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, September 5th. Wells Fargo & Company dropped their price target on Ultragenyx Pharmaceutical from $65.00 to $45.00 and set an “overweight” rating on the stock in a research report on Tuesday. Truist Financial reduced their price objective on Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group decreased their price objective on shares of Ultragenyx Pharmaceutical from $114.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday. Fifteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.19.

Ultragenyx Pharmaceutical Trading Up 1.0%

Shares of NASDAQ RARE opened at $23.00 on Friday. Ultragenyx Pharmaceutical Inc. has a 12-month low of $18.41 and a 12-month high of $46.50. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -3.87 and a beta of 0.16. The stock’s 50 day simple moving average is $33.02 and its 200 day simple moving average is $31.88.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.58). Ultragenyx Pharmaceutical had a negative return on equity of 414.17% and a negative net margin of 91.95%.The company had revenue of $159.93 million during the quarter, compared to analyst estimates of $167.42 million. During the same period in the prior year, the business earned ($1.40) earnings per share. Ultragenyx Pharmaceutical’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Ultragenyx Pharmaceutical Profile

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.