Suvretta Capital Management LLC Sells 910,112 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Suvretta Capital Management LLC cut its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 44.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,151,314 shares of the biopharmaceutical company’s stock after selling 910,112 shares during the period. Ultragenyx Pharmaceutical comprises approximately 2.0% of Suvretta Capital Management LLC’s portfolio, making the stock its 11th biggest holding. Suvretta Capital Management LLC owned about 1.25% of Ultragenyx Pharmaceutical worth $63,955,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Alkeon Capital Management LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 34.3% in the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after acquiring an additional 769,884 shares in the last quarter. Federated Hermes Inc. grew its holdings in Ultragenyx Pharmaceutical by 8.7% during the second quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock valued at $86,599,000 after purchasing an additional 168,345 shares during the period. Millennium Management LLC grew its holdings in Ultragenyx Pharmaceutical by 103.8% during the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after purchasing an additional 942,529 shares during the period. Marshall Wace LLP grew its holdings in Ultragenyx Pharmaceutical by 16.9% during the second quarter. Marshall Wace LLP now owns 1,133,100 shares of the biopharmaceutical company’s stock valued at $46,570,000 after purchasing an additional 164,110 shares during the period. Finally, First Light Asset Management LLC grew its holdings 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 purchasing an additional 172,700 shares during the period. 97.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 2,223,985 shares in the company, valued at $124,209,562.25. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Howard Horn sold 7,465 shares of the firm’s 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 sale, the chief financial officer now owns 92,301 shares in the company, valued at $4,869,800.76. The trade was a 7.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,556 shares of company stock worth $1,515,967. Corporate insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock opened at $48.13 on Friday. Ultragenyx Pharmaceutical Inc. has a 52-week low of $37.02 and a 52-week high of $60.37. The company has a market capitalization of $4.44 billion, a PE ratio of -7.44 and a beta of 0.58. The business’s fifty day moving average is $52.26 and its 200 day moving average is $48.57.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the business posted ($2.23) earnings per share. The firm’s revenue was up 42.3% compared to the same quarter last year. On average, sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RARE shares. HC Wainwright increased their price objective on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. JPMorgan Chase & Co. reduced their price objective on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. Barclays reduced their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.46.

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.