Prudential Financial Inc. Has $11.48 Million Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Prudential Financial Inc. lifted its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 659.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 272,940 shares of the biopharmaceutical company's stock after buying an additional 237,003 shares during the quarter. Prudential Financial Inc. owned about 0.30% of Ultragenyx Pharmaceutical worth $11,483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 8.8% during the third quarter. Victory Capital Management Inc. now owns 10,948 shares of the biopharmaceutical company's stock valued at $608,000 after purchasing an additional 884 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in Ultragenyx Pharmaceutical in the 3rd quarter valued at $321,000. Quest Partners LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter valued at $119,000. Charles Schwab Investment Management Inc. raised its position 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 worth $33,026,000 after acquiring an additional 56,905 shares during the last quarter. Finally, Cerity Partners LLC acquired a new position in shares of Ultragenyx Pharmaceutical during the third quarter valued at $1,773,000. Institutional investors and hedge funds own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Stock Up 2.0 %

RARE traded up $0.66 during trading on Wednesday, hitting $34.50. The company had a trading volume of 124,903 shares, compared to its average volume of 815,746. The company has a market capitalization of $3.19 billion, a PE ratio of -5.44 and a beta of 0.67. Ultragenyx Pharmaceutical Inc. has a one year low of $33.53 and a one year high of $60.37. The firm's 50-day moving average price is $41.41 and its 200 day moving average price is $46.45.

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

Analysts Set New Price Targets

Several brokerages have recently commented on RARE. Wells Fargo & Company lifted their price target 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. Cantor Fitzgerald reiterated an "overweight" rating and set a $118.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Piper Sandler reduced their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. HC Wainwright reiterated a "buy" rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Finally, Canaccord Genuity Group boosted their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.79.

Insiders Place Their Bets

In related news, CFO Howard Horn sold 1,785 shares of the business'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 directly owns 106,169 shares in the company, valued at approximately $4,289,227.60. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Emil D. Kakkis sold 25,000 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $42.48, for a total transaction of $1,062,000.00. Following the completion of the sale, the chief executive officer now owns 2,158,985 shares of the company's stock, valued at approximately $91,713,682.80. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,643 shares of company stock valued at $5,256,268 in the last three months. 5.80% of the stock is currently owned by corporate 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.