KLP Kapitalforvaltning AS Purchases Shares of 16,300 Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

KLP Kapitalforvaltning AS purchased a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,300 shares of the biopharmaceutical company's stock, valued at approximately $686,000.

Several other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Ultragenyx Pharmaceutical by 10.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 594,521 shares of the biopharmaceutical company's stock valued at $33,026,000 after acquiring an additional 56,905 shares during the last quarter. Cerity Partners LLC bought a new position in Ultragenyx Pharmaceutical during the 3rd quarter valued at approximately $1,773,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Ultragenyx Pharmaceutical by 0.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,756 shares of the biopharmaceutical company's stock valued at $9,874,000 after purchasing an additional 947 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in Ultragenyx Pharmaceutical in the 3rd quarter worth approximately $194,000. Finally, Captrust Financial Advisors grew its position in shares of Ultragenyx Pharmaceutical by 129.3% in the 3rd quarter. Captrust Financial Advisors now owns 11,428 shares of the biopharmaceutical company's stock worth $635,000 after buying an additional 6,445 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company's stock.

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Insider Activity

In other news, CFO Howard Horn sold 1,785 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $40.40, for a total transaction of $72,114.00. Following the sale, the chief financial officer now owns 106,169 shares of the company's stock, valued at $4,289,227.60. This trade represents a 1.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas Richard Kassberg sold 6,028 shares of Ultragenyx Pharmaceutical 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 completion of the sale, the executive vice president now owns 265,238 shares of the company's stock, valued at $11,166,519.80. This represents a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,643 shares of company stock worth $5,256,268 over the last 90 days. 5.80% of the stock is currently owned by insiders.

Ultragenyx Pharmaceutical Trading Down 7.7 %

Ultragenyx Pharmaceutical stock traded down $2.70 during mid-day trading on Friday, hitting $32.43. The company had a trading volume of 879,476 shares, compared to its average volume of 793,657. Ultragenyx Pharmaceutical Inc. has a 12 month low of $32.07 and a 12 month high of $60.37. The stock's 50 day moving average price is $40.83 and its two-hundred day moving average price is $45.93. The company has a market capitalization of $3.04 billion, a PE ratio of -5.12 and a beta of 0.61.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on RARE shares. Canaccord Genuity Group raised their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Wells Fargo & Company raised their target price on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. Piper Sandler reduced their price target on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Wedbush reaffirmed a "neutral" rating and set a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. upped their target price on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of "Moderate Buy" and a consensus target price 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.