Looking at the Latest Short Interest Activity for Ultragenyx Pharmaceutical Inc

Ultragenyx Pharmaceutical Inc: Recent Short Interest Trends

Ultragenyx Pharmaceutical Inc (NYSE: RARE) has experienced a 3.04% decrease in short interest as a percentage of its float since the previous update. The latest exchange data shows that 8.60 million shares are currently sold short, representing 9.24% of the company’s available shares for trading. At the current trading volume, it would take investors an average of 5.66 days to cover all short positions.

Understanding Short Interest

Short interest refers to the total number of shares that have been borrowed and sold by traders who have not yet closed their positions. Short selling is a strategy where investors sell shares they do not own, anticipating a decline in the stock’s price. If the price drops, short sellers can buy back the shares at a lower cost and profit from the difference. Conversely, if the stock price rises, they incur losses.

Monitoring short interest is valuable because it provides insight into investor sentiment. A rising short interest often suggests growing pessimism about a stock, while a decline can indicate increasing optimism among traders.

Short Interest Over the Past Three Months

The chart above illustrates that the proportion of Ultragenyx Pharmaceutical Inc shares sold short has declined since the last report. While this reduction does not guarantee an imminent price increase, it does indicate that fewer shares are being targeted by short sellers at this time.

How Ultragenyx Compares to Industry Peers

Comparing a company’s short interest to that of similar businesses is a common method used by analysts and investors to assess performance. Peers are typically companies in the same sector with comparable size, age, and financial characteristics. You can identify peer groups by reviewing 10-K filings, proxy statements, or conducting your own research.

According to Benzinga Pro, the average short interest as a percentage of float among Ultragenyx’s peer group stands at 14.92%. This means Ultragenyx currently has a lower short interest than most of its industry counterparts.

This article was produced by Benzinga’s automated content system and reviewed by an editor.