Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Acquired by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 5.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,627,932 shares of the biopharmaceutical company's stock after buying an additional 81,667 shares during the period. Alliancebernstein L.P. owned approximately 1.76% of Ultragenyx Pharmaceutical worth $68,487,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Ultragenyx Pharmaceutical by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company's stock valued at $422,167,000 after buying an additional 89,389 shares during the period. Geode Capital Management LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 4.4% during the third quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company's stock worth $87,296,000 after buying an additional 65,623 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of 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 worth $49,375,000 after buying an additional 653,088 shares during the last quarter. Two Sigma Advisers LP increased its position in Ultragenyx Pharmaceutical by 123.4% in the 3rd quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company's stock valued at $54,872,000 after acquiring an additional 545,600 shares during the period. Finally, Norges Bank purchased a new stake in Ultragenyx Pharmaceutical during the 4th quarter valued at approximately $40,463,000. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RARE shares. Piper Sandler lowered their target price 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. JPMorgan Chase & Co. lifted their price objective on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Canaccord Genuity Group upped their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Wedbush reaffirmed a "neutral" rating and issued a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Finally, Wells Fargo & Company boosted their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.79.

Insiders Place Their Bets

In related news, CFO Howard Horn sold 1,785 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $40.40, for a total value of $72,114.00. Following the sale, the chief financial officer now directly owns 106,169 shares of the company's stock, valued at approximately $4,289,227.60. This trade represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas Richard Kassberg sold 6,028 shares of the stock in a transaction that occurred on 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 directly owns 265,238 shares in the company, valued at approximately $11,166,519.80. This represents a 2.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 124,643 shares of company stock valued at $5,256,268. Company insiders own 5.80% of the company's stock.

Ultragenyx Pharmaceutical Stock Up 3.3 %

NASDAQ RARE traded up $1.05 during mid-day trading on Tuesday, hitting $33.19. The stock had a trading volume of 280,381 shares, compared to its average volume of 793,295. The company has a 50 day simple moving average of $40.61 and a 200 day simple moving average of $45.75. The company has a market cap of $3.12 billion, a price-to-earnings ratio of -5.25 and a beta of 0.61. Ultragenyx Pharmaceutical Inc. has a 52-week low of $30.46 and a 52-week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly 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 net margin of 101.60% and a negative return on equity of 193.80%. The business had revenue of $164.88 million during the quarter, compared to analyst estimates of $163.23 million. As a group, equities analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

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.