124,388 Shares in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Acquired by Silverarc Capital Management LLC

Silverarc Capital Management LLC purchased a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 124,388 shares of the biopharmaceutical company's stock, valued at approximately $5,233,000. Silverarc Capital Management LLC owned 0.13% of Ultragenyx Pharmaceutical at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its stake in shares of Ultragenyx Pharmaceutical by 259.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 493 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Ultragenyx Pharmaceutical in the 4th quarter valued at $35,000. Human Investing LLC purchased a new position in Ultragenyx Pharmaceutical during the 4th quarter worth $42,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter worth $83,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Ultragenyx Pharmaceutical by 18.4% in the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company's stock valued at $74,000 after acquiring an additional 273 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Thomas Richard Kassberg sold 6,028 shares of Ultragenyx Pharmaceutical 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. The trade was a 2.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Emil D. Kakkis sold 25,000 shares of the 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 owns 2,158,985 shares in the company, valued at $91,713,682.80. This trade represents a 1.14 % decrease in their ownership of the stock. 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 ninety days. Insiders own 5.50% of the company's stock.

Ultragenyx Pharmaceutical Stock Up 1.2 %

Shares of Ultragenyx Pharmaceutical stock traded up $0.45 during trading on Friday, hitting $38.09. 575,372 shares of the company were exchanged, compared to its average volume of 816,849. The firm has a 50 day moving average price of $37.90 and a 200 day moving average price of $43.78. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -6.01 and a beta of 0.61. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $29.59 and a fifty-two week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued 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%. Analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RARE. Piper Sandler reduced their price objective 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. HC Wainwright restated a "buy" rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. 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 research report on Thursday, March 27th. Finally, Canaccord Genuity Group increased their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. 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, the company presently has an average 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.