Pinnacle Associates Ltd. Has $6.63 Million Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Pinnacle Associates Ltd. lessened its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 25.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,360 shares of the biopharmaceutical company's stock after selling 41,660 shares during the quarter. Pinnacle Associates Ltd. owned 0.14% of Ultragenyx Pharmaceutical worth $6,630,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Millennium Management LLC boosted its position in Ultragenyx Pharmaceutical by 103.8% during the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company's stock worth $76,065,000 after purchasing an additional 942,529 shares in the last quarter. Avoro Capital Advisors LLC grew its stake in Ultragenyx Pharmaceutical by 137.1% in the 1st quarter. Avoro Capital Advisors LLC now owns 830,000 shares of the biopharmaceutical company's stock valued at $38,753,000 after acquiring an additional 480,000 shares during the last quarter. Frazier Life Sciences Management L.P. purchased a new position in Ultragenyx Pharmaceutical during the 2nd quarter valued at about $17,468,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Ultragenyx Pharmaceutical by 513.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 507,095 shares of the biopharmaceutical company's stock worth $23,677,000 after acquiring an additional 424,476 shares during the last quarter. Finally, Artal Group S.A. purchased a new stake in shares of Ultragenyx Pharmaceutical in the first quarter valued at about $8,308,000. Institutional investors and hedge funds own 97.67% of the company's stock.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the company's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the transaction, the chief financial officer now owns 92,301 shares in the company, valued at approximately $4,869,800.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Howard Horn sold 7,465 shares of the company's stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the transaction, the chief financial officer now directly owns 92,301 shares in the company, valued at $4,869,800.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,556 shares of company stock worth $2,519,367. 5.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wedbush raised their price objective on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Canaccord Genuity Group reissued a "buy" rating and set a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, July 23rd. TD Cowen increased their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Royal Bank of Canada restated an "outperform" rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Thursday, September 26th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Ultragenyx Pharmaceutical has a consensus rating of "Moderate Buy" and a consensus price target of $85.08.

Ultragenyx Pharmaceutical Stock Down 1.6 %

NASDAQ:RARE traded down $0.85 during trading hours on Thursday, reaching $50.99. 833,820 shares of the stock were exchanged, compared to its average volume of 766,387. Ultragenyx Pharmaceutical Inc. has a 52 week low of $32.83 and a 52 week high of $60.37. The stock has a market capitalization of $4.24 billion, a P/E ratio of -6.33 and a beta of 0.57. The firm has a 50 day simple moving average of $55.92 and a 200-day simple moving average of $47.82.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.52) EPS for the quarter, topping analysts' consensus estimates of ($1.64) by $0.12. The firm had revenue of $147.03 million during the quarter, compared to the consensus estimate of $123.20 million. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The firm's revenue was up 35.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($2.25) earnings per share. As a group, analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.29 earnings per share for the current year.

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.