Pier 88 Investment Partners LLC Sells 8,450 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Pier 88 Investment Partners LLC decreased its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,090 shares of the biopharmaceutical company's stock after selling 8,450 shares during the period. Pier 88 Investment Partners LLC's holdings in Ultragenyx Pharmaceutical were worth $593,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Ultragenyx Pharmaceutical by 10.6% in 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 in the last quarter. Cerity Partners LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter valued at $1,773,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Ultragenyx Pharmaceutical by 0.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,756 shares of the biopharmaceutical company's stock worth $9,874,000 after purchasing an additional 947 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in Ultragenyx Pharmaceutical during the third quarter worth $194,000. Finally, Captrust Financial Advisors raised its holdings in Ultragenyx Pharmaceutical by 129.3% during the third quarter. Captrust Financial Advisors now owns 11,428 shares of the biopharmaceutical company's stock valued at $635,000 after buying an additional 6,445 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company's stock.

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Ultragenyx Pharmaceutical Stock Down 6.3 %

RARE traded down $2.21 during midday trading on Friday, reaching $32.92. 332,526 shares of the company's stock were exchanged, compared to its average volume of 812,034. The business has a 50-day simple moving average of $41.07 and a two-hundred day simple moving average of $46.29. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of -5.19 and a beta of 0.61. Ultragenyx Pharmaceutical Inc. has a one year low of $32.87 and a one year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The company had revenue of $164.88 million for the quarter, compared to the consensus estimate of $163.23 million. As a group, research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have 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 research report on Thursday, March 27th. Wells Fargo & Company boosted their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. Piper Sandler lowered their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. Cantor Fitzgerald reiterated an "overweight" rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Finally, HC Wainwright restated a "buy" rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $92.79.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CAO Theodore Alan Huizenga sold 967 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $40,710.70. Following the transaction, the chief accounting officer now directly owns 50,265 shares of the company's stock, valued at $2,116,156.50. The trade was a 1.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Horn sold 1,785 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total value of $72,114.00. Following the sale, the chief financial officer now owns 106,169 shares in the company, valued at approximately $4,289,227.60. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,643 shares of company stock valued at $5,256,268. 5.80% of the stock is owned by insiders.

Ultragenyx Pharmaceutical Company 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.