Massachusetts Financial Services Co. MA Lowers Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Massachusetts Financial Services Co. MA reduced its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,717 shares of the biopharmaceutical company's stock after selling 41,656 shares during the period. Massachusetts Financial Services Co. MA owned 0.54% of Ultragenyx Pharmaceutical worth $21,065,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 493 shares during the last quarter. Human Investing LLC purchased a new position in shares of Ultragenyx Pharmaceutical in the fourth quarter valued at $42,000. Wilmington Savings Fund Society FSB bought a new stake in Ultragenyx Pharmaceutical in the third quarter worth $83,000. Nomura Asset Management Co. Ltd. purchased a new stake in Ultragenyx Pharmaceutical during the third quarter valued at $93,000. Finally, Van ECK Associates Corp lifted its position in Ultragenyx Pharmaceutical by 18.4% during the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 273 shares during the last quarter. 97.67% of the stock is owned by institutional investors.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 25,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.48, for a total transaction of $1,062,000.00. Following the transaction, the chief executive officer now directly owns 2,158,985 shares in the company, valued at $91,713,682.80. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas Richard Kassberg sold 6,028 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value 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. Over the last quarter, insiders sold 124,643 shares of company stock worth $5,256,268. Company insiders own 5.80% of the company's stock.

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Ultragenyx Pharmaceutical Trading Up 3.0 %

Shares of RARE traded up $0.98 during trading hours on Friday, reaching $34.14. 1,103,595 shares of the company traded hands, compared to its average volume of 811,190. The stock's fifty day moving average price is $39.38 and its 200 day moving average price is $44.88. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of -5.38 and a beta of 0.61. Ultragenyx Pharmaceutical Inc. has a 12-month low of $29.59 and a 12-month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by ($0.07). The company had revenue of $164.88 million during the quarter, compared to analysts' expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. On average, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on RARE. 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 report on Thursday, March 27th. Piper Sandler reduced their price objective 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. Canaccord Genuity Group raised their price objective on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $118.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Finally, HC Wainwright restated a "buy" rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $92.79.

About Ultragenyx Pharmaceutical

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.