Granite Investment Partners LLC Sells 14,611 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Granite Investment Partners LLC decreased its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,415 shares of the biopharmaceutical company's stock after selling 14,611 shares during the period. Granite Investment Partners LLC owned 0.17% of Ultragenyx Pharmaceutical worth $6,749,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Ultragenyx Pharmaceutical by 740.0% during the 3rd quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company's stock worth $4,802,000 after buying an additional 76,150 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Ultragenyx Pharmaceutical by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company's stock valued at $928,000 after purchasing an additional 294 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 valued at $87,296,000 after purchasing an additional 65,623 shares during the period. KBC Group NV boosted its position in shares of Ultragenyx Pharmaceutical by 2,275.8% during the 4th quarter. KBC Group NV now owns 61,010 shares of the biopharmaceutical company's stock worth $2,567,000 after purchasing an additional 58,442 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Ultragenyx Pharmaceutical by 8.9% in the 4th quarter. Nordea Investment Management AB now owns 39,673 shares of the biopharmaceutical company's stock valued at $1,658,000 after buying an additional 3,246 shares during the period. Institutional investors and hedge funds own 97.67% of the company's stock.

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Ultragenyx Pharmaceutical Stock Up 1.2 %

NASDAQ RARE traded up $0.42 during trading hours on Tuesday, reaching $35.34. 852,305 shares of the company were exchanged, compared to its average volume of 809,370. The stock has a market capitalization of $3.32 billion, a P/E ratio of -5.57 and a beta of 0.61. Ultragenyx Pharmaceutical Inc. has a 1 year low of $29.59 and a 1 year high of $60.37. The business's 50 day simple moving average is $38.96 and its 200-day simple moving average is $44.61.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced 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). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The firm had revenue of $164.88 million for the quarter, compared to the consensus estimate of $163.23 million. As a group, sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 73,434 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $3,091,571.40. Following the sale, the chief executive officer now owns 641,731 shares of the company's stock, valued at $27,016,875.10. The trade was a 10.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Howard Horn sold 1,785 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $40.40, for a total value of $72,114.00. Following the completion of the transaction, the chief financial officer now owns 106,169 shares of the company's stock, valued at approximately $4,289,227.60. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,643 shares of company stock valued at $5,256,268 over the last three months. 5.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. HC Wainwright restated a "buy" rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. 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 report on Tuesday, February 18th. Wedbush reiterated a "neutral" rating and set a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. One 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, Ultragenyx Pharmaceutical has an average 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.