Price T Rowe Associates Inc. MD Reduces Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Price T Rowe Associates Inc. MD cut its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 18.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,512,423 shares of the biopharmaceutical company's stock after selling 556,231 shares during the quarter. Price T Rowe Associates Inc. MD owned 2.72% of Ultragenyx Pharmaceutical worth $105,699,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new position in Ultragenyx Pharmaceutical in the 4th quarter valued at about $459,000. Silverarc Capital Management LLC purchased a new position in Ultragenyx Pharmaceutical in the fourth quarter valued at about $5,233,000. Hsbc Holdings PLC grew its stake in Ultragenyx Pharmaceutical by 195.1% during the 4th quarter. Hsbc Holdings PLC now owns 47,516 shares of the biopharmaceutical company's stock valued at $1,975,000 after purchasing an additional 31,416 shares in the last quarter. Stifel Financial Corp increased its holdings in Ultragenyx Pharmaceutical by 13.5% during the 4th quarter. Stifel Financial Corp now owns 23,796 shares of the biopharmaceutical company's stock worth $1,001,000 after purchasing an additional 2,835 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Ultragenyx Pharmaceutical by 1,872.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 16,827 shares of the biopharmaceutical company's stock valued at $708,000 after purchasing an additional 15,974 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 2,990 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $42.88, for a total value of $128,211.20. Following the completion of the sale, the executive vice president now directly owns 54,991 shares in the company, valued at $2,358,014.08. This represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Emil D. Kakkis sold 25,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $42.48, for a total value of $1,062,000.00. Following the transaction, the chief executive officer now directly owns 2,158,985 shares in the company, valued at approximately $91,713,682.80. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,643 shares of company stock worth $5,256,268. 5.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RARE shares. Piper Sandler decreased their price target on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. Canaccord Genuity Group boosted their target price 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. HC Wainwright reaffirmed a "buy" rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Wedbush reissued a "neutral" rating and issued a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $118.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $92.79.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE opened at $38.09 on Monday. The company has a market cap of $3.58 billion, a P/E ratio of -6.01 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. The stock has a fifty day moving average price of $37.79 and a 200 day moving average price of $43.54.

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 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 analyst estimates of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. As a group, research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 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.

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