Simplify Asset Management Inc. Takes Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Simplify Asset Management Inc. bought a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 16,810 shares of the biopharmaceutical company's stock, valued at approximately $707,000.

A number of other large investors also recently added to or reduced their stakes in RARE. Smartleaf Asset Management LLC boosted its holdings in Ultragenyx Pharmaceutical by 259.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 493 shares during the period. True Wealth Design LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the third quarter worth about $43,000. Human Investing LLC purchased a new position in shares of Ultragenyx Pharmaceutical in the fourth quarter valued at approximately $42,000. Wilmington Savings Fund Society FSB purchased a new stake in Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $83,000. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $93,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 6,028 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $253,778.80. Following the transaction, the executive vice president now owns 265,238 shares in the company, valued at $11,166,519.80. The trade was a 2.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Howard Horn sold 1,785 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total value of $72,114.00. Following the transaction, the chief financial officer now directly owns 106,169 shares in the company, valued at $4,289,227.60. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 136,370 shares of company stock worth $5,751,499. 5.80% of the stock is owned by company insiders.

Remove Ads

Ultragenyx Pharmaceutical Stock Performance

RARE stock traded up $0.91 on Thursday, reaching $38.89. The company had a trading volume of 558,142 shares, compared to its average volume of 779,236. The company has a market cap of $3.60 billion, a P/E ratio of -6.13 and a beta of 0.67. Ultragenyx Pharmaceutical Inc. has a 1 year low of $36.71 and a 1 year high of $60.37. The company's fifty day moving average is $41.68 and its 200 day moving average is $47.03.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The firm had revenue of $164.88 million during the quarter, compared to analysts' expectations of $163.23 million. On average, sell-side analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RARE. HC Wainwright reaffirmed a "buy" rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Wells Fargo & Company upped their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. Piper Sandler reduced their target price on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. Cantor Fitzgerald restated an "overweight" rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their price target on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $92.79.

Ultragenyx Pharmaceutical 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.