Magnetar Financial LLC Purchases Shares of 6,779 Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Magnetar Financial LLC purchased a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,779 shares of the biopharmaceutical company's stock, valued at approximately $285,000.

A number of other large investors have also modified their holdings of RARE. Teacher Retirement System of Texas raised its holdings in shares of Ultragenyx Pharmaceutical by 20.2% during the fourth quarter. Teacher Retirement System of Texas now owns 24,574 shares of the biopharmaceutical company's stock valued at $1,034,000 after buying an additional 4,130 shares during the last quarter. Privium Fund Management B.V. increased its holdings in shares of Ultragenyx Pharmaceutical by 6.5% during the fourth quarter. Privium Fund Management B.V. now owns 258,380 shares of the biopharmaceutical company's stock valued at $10,870,000 after purchasing an additional 15,868 shares during the period. Xponance Inc. increased its holdings in shares of Ultragenyx Pharmaceutical by 8.3% during the fourth quarter. Xponance Inc. now owns 12,205 shares of the biopharmaceutical company's stock valued at $513,000 after purchasing an additional 940 shares during the period. Swiss National Bank raised its stake in shares of Ultragenyx Pharmaceutical by 2.5% during the fourth quarter. Swiss National Bank now owns 163,152 shares of the biopharmaceutical company's stock valued at $6,864,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ultragenyx Pharmaceutical by 28.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,874 shares of the biopharmaceutical company's stock valued at $962,000 after buying an additional 5,104 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

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Ultragenyx Pharmaceutical Stock Up 2.4 %

RARE stock traded up $0.91 during trading hours on Thursday, hitting $38.89. The company's stock had a trading volume of 558,142 shares, compared to its average volume of 778,328. Ultragenyx Pharmaceutical Inc. has a 12 month low of $36.71 and a 12 month high of $60.37. The stock has a 50 day moving average price of $41.72 and a two-hundred day moving average price of $47.08. The company has a market capitalization of $3.60 billion, a PE ratio of -6.13 and a beta of 0.67.

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

Analysts Set New Price Targets

A number of research firms have commented on RARE. Canaccord Genuity Group boosted their price target 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 set a $48.00 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. Wells Fargo & Company lifted their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. JPMorgan Chase & Co. upped their price objective on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $92.79.

Insider Activity

In other news, CEO Emil D. Kakkis sold 11,727 shares of the firm's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $42.23, for a total value of $495,231.21. Following the sale, the chief executive officer now owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Howard Horn sold 1,785 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $40.40, for a total transaction of $72,114.00. Following the transaction, the chief financial officer now owns 106,169 shares of the company's stock, valued at approximately $4,289,227.60. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,370 shares of company stock valued at $5,751,499. 5.80% of the stock is owned by insiders.

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.