RARE valuation is definitely high relative to average biotech, but I don't think it is too high relative to high quality genetic disorder biotech historically - I remember two years ago everyone complained GEVA valuation was too high when it was in 20s and 30s, I think RARE is cheap today relative to GEVA two years ago when it had only one ERT candidate in ph1. So I don't anticipate RARE valuation will come down too much further, 20s sure doubt 10s, but you never know - more than happy to increase position if my timing is way off. With relatively high valuation, on the other hand, I think most if not all of their candidates currently in ph1/2 trials have strong likelihood of success: the two biologic candidates especially, need to see more data on those substrate replacement candidates.
Market Data 
Markets 
