ADAR1 Capital Management LLC Takes Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

ADAR1 Capital Management LLC bought a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,000 shares of the biopharmaceutical company's stock, valued at approximately $337,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Ultragenyx Pharmaceutical in the 4th quarter worth approximately $40,463,000. Pictet Asset Management Holding SA raised its stake in Ultragenyx Pharmaceutical by 125.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company's stock valued at $49,375,000 after buying an additional 653,088 shares during the last quarter. Fisher Asset Management LLC bought a new stake in Ultragenyx Pharmaceutical in the fourth quarter worth $11,156,000. Prudential Financial Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 659.5% in the fourth quarter. Prudential Financial Inc. now owns 272,940 shares of the biopharmaceutical company's stock worth $11,483,000 after acquiring an additional 237,003 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. increased its holdings in shares of Ultragenyx Pharmaceutical by 49.1% during the third quarter. Frazier Life Sciences Management L.P. now owns 633,715 shares of the biopharmaceutical company's stock valued at $35,203,000 after acquiring an additional 208,715 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Trading Up 3.0 %

RARE stock traded up $0.98 during trading on Friday, reaching $34.14. The stock had a trading volume of 1,103,595 shares, compared to its average volume of 811,190. The firm has a market cap of $3.21 billion, a PE ratio of -5.38 and a beta of 0.61. The stock's 50 day moving average is $39.38 and its two-hundred day moving average is $44.88. Ultragenyx Pharmaceutical Inc. has a 52 week low of $29.59 and a 52 week high of $60.37.

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

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CAO Theodore Alan Huizenga sold 967 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $40,710.70. Following the completion of the sale, the chief accounting officer now directly owns 50,265 shares of the company's stock, valued at approximately $2,116,156.50. This represents a 1.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Karah Herdman Parschauer sold 2,990 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $42.88, for a total transaction of $128,211.20. Following the transaction, the executive vice president now directly owns 54,991 shares in the company, valued at $2,358,014.08. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,643 shares of company stock worth $5,256,268 in the last 90 days. 5.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

RARE has been the topic of a number of analyst reports. HC Wainwright reiterated a "buy" rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $118.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Canaccord Genuity Group raised their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Wedbush reaffirmed 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. Finally, Piper Sandler reduced their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, March 17th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of "Moderate Buy" and a consensus price target 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.