Vontobel Holding Ltd., a renowned financial institution, recently made headlines by reducing its holdings in Ultragenyx Pharmaceutical Inc. This move marks a significant shift in the investment strategy of one of the industry’s key players. The company reported that it had cut its stake in Ultragenyx Pharmaceutical by 13.7% during the first quarter, according to its latest filing with the SEC.
This noteworthy decision by Vontobel Holding Ltd. resulted in the sale of 4,494 shares of Ultragenyx Pharmaceutical. As a result, the firm now owns 28,424 shares of this biopharmaceutical company’s stock. These holdings have an estimated worth of $1,140,000 based on Vontobel Holding Ltd.’s most recent SEC filing.
Ultragenyx Pharmaceutical, listed as NASDAQ:RARE — Free Report, released its quarterly earnings results on Thursday, May 4th. Unfortunately for investors, the company fell short of analysts’ consensus estimates for earnings per share (EPS). They reported an EPS of ($2.33), missing expectations by $0.36.
The revenue generated by Ultragenyx Pharmaceutical during this quarter was $100.50 million—slightly less than what analysts had anticipated ($103.90 million). These results may be considered underwhelming by some industry experts; however, it is crucial to remember that Ultragenyx Pharmaceutical experienced a significant increase in quarterly revenue compared to the same period last year.
Despite falling short on financial performance metrics for this particular quarter, Ultragenyx Pharmaceutical remains steadfast in its quest to provide innovative solutions for rare and ultra-rare genetic diseases globally. The biopharmaceutical company primarily focuses on identifying and acquiring novel products for these niche markets.
Ultragenyx Pharmaceutical boasts an extensive portfolio of biologic products that are specifically designed to cater to patients suffering from various rare genetic disorders across different regions worldwide. Notable examples include Crysvita (burosumab) and Mepsevii.
Crysvita, an antibody that targets fibroblast growth factor 23, is intended for the treatment of X-linked hypophosphatemia. Additionally, it proves beneficial for patients suffering from tumor-induced osteomalacia. On the other hand, Mepsevii serves as an enzyme replacement therapy specifically developed to aid children and adults with Mucopolysaccharidosis VII, a rare genetic condition.
Furthermore, Ultragenyx Pharmaceutical also offers Dojolvi, which has been created to address long-chain fatty acid oxidation disorders effectively. Lastly, Evkeeza (evinacumab) is the company’s latest addition to its product portfolio and is primarily designed for the treatment of homozygous familial hypercholesterolemia.
Ultragenyx Pharmaceutical’s dedication and commitment to developing innovative solutions for rare genetic diseases demonstrate its desire to make a meaningful impact in the lives of patients globally. While challenges may arise, as evident from their recent financial results, the company’s determination and unique approach position them favorably for future success.
Investors are eagerly awaiting further updates on Ultragenyx Pharmaceutical as the company navigates through a rapidly evolving and highly competitive landscape. Despite these uncertainties, experts estimate that Ultragenyx Pharmaceutical Inc. will post -8.35 earnings per share for the current fiscal year.
In conclusion, Vontobel Holding Ltd.’s decision to reduce its holdings in Ultragenyx Pharmaceutical Inc., coupled with the biopharmaceutical company’s lower-than-expected quarterly earnings results , has undoubtedly caught the attention of investors worldwide. However, Ultragenyx Pharmaceutical remains steadfast in its mission to develop novel treatments for rare and ultra-rare genetic diseases—a goal that holds immense potential for both patients seeking relief and investors looking to make a socially impactful investment choice
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Investor Interest in Ultragenyx Pharmaceutical Inc. Surges as Hedge Funds Adjust Positions
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”RARE” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Ultragenyx Pharmaceutical Inc., a leading biopharmaceutical company, has recently seen changes to its positions by several hedge funds, indicating increased investor interest. Quadrant Capital Group LLC, Lazard Asset Management LLC, Signaturefd LLC, Harbor Capital Advisors Inc., and Neo Ivy Capital Management are among the hedge funds that have made adjustments to their holdings in Ultragenyx Pharmaceutical. This surge of investment comes as the market cap for Ultragenyx Pharmaceutical reaches an impressive $3.40 billion.
Quadrant Capital Group LLC has significantly boosted its position in Ultragenyx Pharmaceutical by 111.4% during the fourth quarter. With an additional purchase of 487 shares valued at $43,000, Quadrant Capital now owns a total of 924 shares of the biopharmaceutical company’s stock.
Lazard Asset Management LLC also increased its position in Ultragenyx Pharmaceutical by 36.6% during the first quarter. With an additional purchase of 240 shares valued at $64,000, Lazard Asset Management now owns a total of 896 shares of the company’s stock.
Signaturefd LLC witnessed an even more significant boost, with a position increase of 143.7% during the fourth quarter. By purchasing an additional 862 shares valued at $68,000, Signaturefd now owns a total of 1,462 shares of Ultragenyx Pharmaceutical.
Similarly, Harbor Capital Advisors Inc. saw its position grow by 26.1% during the fourth quarter with an additional purchase of 469 shares valued at $105,000. As a result, they now own a total of 2,264 shares in the biopharmaceutical company.
Neo Ivy Capital Management entered the scene with a new stake in Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $141,000.
It is worth noting that hedge funds and other institutional investors currently own around 96.56% of Ultragenyx Pharmaceutical’s stock, reflecting their growing confidence in the company’s potential.
Despite this increase in investor interest, Ultragenyx Pharmaceutical’s stock opened at $48.01 on Thursday, a slight deviation from the company’s 50-day simple moving average of $48.05 and two-hundred day simple moving average of $44.62. The company exhibits a market cap of $3.40 billion, a price-to-earnings ratio of -4.68, and a beta of 0.90.
Ultragenyx Pharmaceutical focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases worldwide. They specialize in biologic products such as Crysvita (burosumab) for treating X-linked hypophosphatemia and Mepsevii for mucopolysaccharidosis VII.
In related news, Director Corazon (Corsee) D. Sanders recently sold 1,485 shares of Ultragenyx Pharmaceutical’s stock at an average price of $51.65 per share on June 8th. Following the transaction, Sanders now directly owns 9,570 shares valued at $494,290.50.
Furthermore, insider John Richard Pinion sold 2,012 shares of the stock at an average price of $50 per share on May 18th. Post-sale, Pinion holds 74,744 shares valued at $3,737,200.
These transactions were disclosed to the U.S Securities and Exchange Commission (SEC) through filings available to the public.
With insiders selling a total of 8,180 shares worth $389,011 over the past three months alone indicates that insiders are more than willing to capitalize on the company’s success.
Major research analysts have voiced positive sentiments regarding Ultragenyx Pharmaceutical’s performance as well. 1-800-FLOWERS.COM has maintained a rating on the company, indicating their confidence in its growth prospects. Citigroup has also raised their target price to $133.00 from $130.00.
Cantor Fitzgerald, Evercore ISI, and StockNews.com have all given Ultragenyx Pharmaceutical positive ratings and increased target prices for the stock as well.
Overall, Ultragenyx Pharmaceutical’s stock has received an average rating of “Moderate Buy” with an average target price of $91.69 according to Bloomberg.com.
The recent surge in investor interest, combined with positive analyst outlooks, further solidifies Ultragenyx Pharmaceutical’s position as a promising player in the biopharmaceutical industry.
