Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Purchased by Peregrine Capital Management LLC

Peregrine Capital Management LLC grew its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 22.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 163,888 shares of the biopharmaceutical company's stock after buying an additional 29,684 shares during the quarter. Peregrine Capital Management LLC owned 0.18% of Ultragenyx Pharmaceutical worth $6,895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Alkeon Capital Management LLC raised its position in shares of Ultragenyx Pharmaceutical by 34.3% in the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company's stock worth $167,301,000 after acquiring an additional 769,884 shares during the period. Baker BROS. Advisors LP grew its holdings in Ultragenyx Pharmaceutical by 7.5% in the third quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company's stock valued at $87,553,000 after purchasing an additional 109,567 shares during the period. Geode Capital Management LLC grew its holdings in Ultragenyx Pharmaceutical by 4.4% in the third quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company's stock valued at $87,296,000 after purchasing an additional 65,623 shares during the period. Two Sigma Advisers LP grew its holdings in Ultragenyx Pharmaceutical by 123.4% in the third quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company's stock valued at $54,872,000 after purchasing an additional 545,600 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in Ultragenyx Pharmaceutical by 35.9% in the third quarter. Point72 Asset Management L.P. now owns 653,660 shares of the biopharmaceutical company's stock valued at $36,311,000 after purchasing an additional 172,711 shares during the period. Institutional investors and hedge funds own 97.67% of the company's stock.

Wall Street Analyst Weigh In

RARE has been the topic of several research analyst reports. Piper Sandler lifted their price objective on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Wedbush restated a "neutral" rating and set a $48.00 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Canaccord Genuity Group boosted their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a research report on Tuesday. Cantor Fitzgerald reissued an "overweight" rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $93.50.

Insiders Place Their Bets

In related news, CEO Emil D. Kakkis sold 11,727 shares of the business's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the transaction, the chief executive officer now directly owns 2,183,985 shares of the company's stock, valued at $92,229,686.55. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.80% of the stock is owned by company insiders.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE traded down $1.89 during midday trading on Friday, hitting $42.59. 616,022 shares of the stock were exchanged, compared to its average volume of 881,342. The firm has a market cap of $3.93 billion, a P/E ratio of -6.72 and a beta of 0.60. Ultragenyx Pharmaceutical Inc. has a 52-week low of $37.02 and a 52-week high of $60.37. The stock has a fifty day simple moving average of $43.21 and a 200 day simple moving average of $49.47.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its earnings results 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). Ultragenyx Pharmaceutical had a negative return on equity of 185.70% and a negative net margin of 101.60%. The firm had revenue of $164.88 million for the quarter, compared to analyst estimates of $163.23 million. As a group, equities research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal 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.