Ultragenyx Pharmaceutical (RARE) : Traders are increasing their bearish positions on the stock, as is visible by the 8.2% jump in the outstanding short positions; a total addition of 350,945 shares on the sell side. On Jul 29, 2016, the total short positions were 4,307,172 shares, which went up to 4,658,117 shares by the close of trading on August 15, 2016. It will take 10 days for the bears to roll over or cover. An average of 477,910 shares exchange hands daily. 13.1% of the float of the stock has been sold short by the bears. The short interest information was released on Wednesday Aug 24th after the market close.
Ultragenyx Pharmaceutical (NASDAQ:RARE): The stock opened at $69.07 on Wednesday but the bulls could not build on the opening and the stock topped out at $70.00 for the day. The stock traded down to $63.32 during the day, due to lack of any buying support eventually closed down at $64.10 with a loss of -7.58% for the day. The stock had closed at $69.36 on the previous day. The total traded volume was 904,830 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the (President & CEO) of Ultragenyx Pharmaceutical Inc., Kakkis Emil D had sold 20,000 shares worth of $1,355,000 in a transaction dated August 15, 2016. In this transaction, 20,000 shares were sold at $67.75 per share.
Ultragenyx Pharmaceutical Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the identification, acquisition, development, and commercialization of products for the treatment of rare and ultra-rare diseases, with a focus on serious, debilitating genetic diseases. Its pipeline consists of two product categories: biologics, including a monoclonal antibody and enzyme replacement therapies, and small-molecule substrate replacement therapies. Its products are KRN23 (UX023), rhGUS (UX003), rhPPCA (UX004), Triheptanoin (UX007) and SA-ER (UX001). KRN23 is a fully human monoclonal antibody administered via subcutaneous injection. rhGUS is an intravenous (IV), enzyme replacement therapy for the treatment of mucopolysaccharidosis 7. rhPPCA is an enzyme replacement therapy for galactosialidosis. Triheptanoin is a medium odd-chain triglyceride of seven-carbon fatty acids. SA-ER is for the treatment of hereditary inclusion body myopathy (HIBM).