Clearbridge Investments LLC Trims Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Clearbridge Investments LLC lessened its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,322,205 shares of the biopharmaceutical company's stock after selling 104,772 shares during the quarter. Clearbridge Investments LLC owned approximately 2.51% of Ultragenyx Pharmaceutical worth $97,695,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position 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 in the last quarter. True Wealth Design LLC bought a new stake in shares of Ultragenyx Pharmaceutical during the third quarter valued at approximately $43,000. Human Investing LLC bought a new stake in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $42,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter worth about $83,000. Finally, Nomura Asset Management Co. Ltd. bought a new position in shares of Ultragenyx Pharmaceutical in the 3rd quarter worth about $93,000. Hedge funds and other institutional investors own 97.67% of the company's stock.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 73,434 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 $3,091,571.40. Following the completion of the sale, the chief executive officer now directly owns 641,731 shares in the company, valued at $27,016,875.10. The trade was a 10.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Karah Herdman Parschauer sold 2,990 shares of the stock in a transaction that occurred on 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 owns 54,991 shares in the company, valued at $2,358,014.08. This trade represents a 5.16 % decrease in their position. 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. 5.80% of the stock is owned by insiders.

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Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock traded down $2.70 during trading hours on Friday, reaching $32.43. The company had a trading volume of 879,476 shares, compared to its average volume of 793,657. The business has a fifty day moving average price of $40.83 and a 200-day moving average price of $46.02. Ultragenyx Pharmaceutical Inc. has a one year low of $32.07 and a one year high of $60.37. The firm has a market cap of $3.04 billion, a PE ratio of -5.12 and a beta of 0.61.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts' consensus estimates of ($1.32) by ($0.07). The company 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%. Equities research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Wall Street Analyst Weigh In

RARE has been the topic of a number of recent research reports. HC Wainwright restated a "buy" rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Wedbush restated a "neutral" rating and issued a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. Piper Sandler reduced their price objective on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. Wells Fargo & Company boosted their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. 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, March 27th. 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.