By otakuyassine3@gmail.com 
Norges Bank acquired a new position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 961,794 shares of the biopharmaceutical company’s stock, valued at approximately $40,463,000.
Several other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Ultragenyx Pharmaceutical by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company’s stock worth $422,167,000 after acquiring an additional 89,389 shares during the period. Geode Capital Management LLC increased its stake in shares of Ultragenyx Pharmaceutical by 4.4% in the third quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock worth $87,296,000 after purchasing an additional 65,623 shares during the period. Two Sigma Advisers LP lifted its position in shares of Ultragenyx Pharmaceutical by 123.4% during the 3rd quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock worth $54,872,000 after purchasing an additional 545,600 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its stake in Ultragenyx Pharmaceutical by 49.1% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 633,715 shares of the biopharmaceutical company’s stock valued at $35,203,000 after purchasing an additional 208,715 shares during the period. Finally, Eagle Health Investments LP grew its holdings in Ultragenyx Pharmaceutical by 11.7% in the 4th quarter. Eagle Health Investments LP now owns 627,600 shares of the biopharmaceutical company’s stock valued at $26,403,000 after buying an additional 65,900 shares during the last quarter. 97.67% of the stock is owned by institutional investors.
Ultragenyx Pharmaceutical Price Performance
Shares of NASDAQ:RARE opened at $32.43 on Friday. The business’s fifty day moving average price is $40.83 and its two-hundred day moving average price is $46.02. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $60.37. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -5.12 and a beta of 0.61.
Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Free Report) last announced its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The firm had revenue of $164.88 million for the quarter, compared to analyst estimates of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. Research analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.
Insider Activity
In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 6,028 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $253,778.80. Following the completion of the sale, the executive vice president now owns 265,238 shares in the company, valued at approximately $11,166,519.80. This trade represents a 2.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Karah Herdman Parschauer sold 2,990 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $42.88, for a total transaction of $128,211.20. Following the completion of the transaction, the executive vice president now directly owns 54,991 shares of the company’s stock, valued at approximately $2,358,014.08. This represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,643 shares of company stock worth $5,256,268. Insiders own 5.80% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently weighed in on RARE. Wedbush reissued a “neutral” rating and issued a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. HC Wainwright restated a “buy” rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Canaccord Genuity Group increased their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Piper Sandler lowered their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.79.
Read Our Latest Analysis on Ultragenyx Pharmaceutical
Ultragenyx Pharmaceutical Company Profile
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.
See Also
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