Algert Global LLC Boosts Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Algert Global LLC grew its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 46.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,902 shares of the biopharmaceutical company's stock after purchasing an additional 23,580 shares during the period. Algert Global LLC owned approximately 0.08% of Ultragenyx Pharmaceutical worth $4,105,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Ultragenyx Pharmaceutical by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company's stock valued at $166,632,000 after acquiring an additional 120,175 shares in the last quarter. Federated Hermes Inc. increased its holdings in Ultragenyx Pharmaceutical by 8.7% during the second quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company's stock worth $86,599,000 after buying an additional 168,345 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 103.8% during the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company's stock worth $76,065,000 after acquiring an additional 942,529 shares during the last quarter. Marshall Wace LLP grew its position in shares of Ultragenyx Pharmaceutical by 16.9% during the 2nd quarter. Marshall Wace LLP now owns 1,133,100 shares of the biopharmaceutical company's stock worth $46,570,000 after purchasing an additional 164,110 shares in the last quarter. Finally, First Light Asset Management LLC boosted its position in shares of Ultragenyx Pharmaceutical by 21.8% during the 2nd quarter. First Light Asset Management LLC now owns 963,146 shares of the biopharmaceutical company's stock worth $39,585,000 after acquiring an additional 172,700 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Trading Down 0.4 %

Shares of NASDAQ RARE traded down $0.18 during mid-day trading on Tuesday, hitting $46.94. The company had a trading volume of 143,191 shares, compared to its average volume of 782,001. The stock's 50-day moving average price is $52.89 and its 200-day moving average price is $48.53. Ultragenyx Pharmaceutical Inc. has a 1 year low of $37.02 and a 1 year high of $60.37. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of -7.28 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The firm had revenue of $139.49 million during the quarter, compared to analyst estimates of $135.28 million. During the same quarter in the previous year, the company posted ($2.23) earnings per share. The company's revenue was up 42.3% compared to the same quarter last year. As a group, equities research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Emil D. Kakkis sold 20,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the transaction, the chief financial officer now directly owns 92,301 shares of the company's stock, valued at $4,869,800.76. This trade represents a 7.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,556 shares of company stock valued at $1,515,967 over the last 90 days. Insiders own 5.80% of the company's stock.

Analyst Ratings Changes

RARE has been the subject of several research reports. Canaccord Genuity Group reissued a "buy" rating and issued a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. JPMorgan Chase & Co. dropped their price objective on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an "overweight" rating for the company in a research note on Thursday, November 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Wells Fargo & Company raised their price target on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price target on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $87.46.

About Ultragenyx Pharmaceutical

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.