Pictet Asset Management Holding SA Grows Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Pictet Asset Management Holding SA increased its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 125.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,173,638 shares of the biopharmaceutical company's stock after buying an additional 653,088 shares during the quarter. Pictet Asset Management Holding SA owned about 1.27% of Ultragenyx Pharmaceutical worth $49,375,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Ultragenyx Pharmaceutical in the 4th quarter valued at $40,463,000. Two Sigma Advisers LP lifted its holdings in shares of 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 in the last quarter. Fisher Asset Management LLC purchased a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $11,156,000. Prudential Financial Inc. boosted its position in shares of Ultragenyx Pharmaceutical by 659.5% during the fourth quarter. Prudential Financial Inc. now owns 272,940 shares of the biopharmaceutical company's stock valued at $11,483,000 after buying an additional 237,003 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. grew its holdings in Ultragenyx Pharmaceutical by 49.1% during the third quarter. Frazier Life Sciences Management L.P. now owns 633,715 shares of the biopharmaceutical company's stock worth $35,203,000 after buying an additional 208,715 shares in the last quarter. Institutional investors own 97.67% of the company's stock.

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Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE traded down $0.38 during trading on Thursday, hitting $34.99. 135,515 shares of the company's stock traded hands, compared to its average volume of 790,501. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of -5.52 and a beta of 0.61. The business has a 50 day moving average of $41.26 and a 200-day moving average of $46.37. Ultragenyx Pharmaceutical Inc. has a 12-month low of $33.53 and a 12-month 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 analysts' consensus estimates of ($1.32) by ($0.07). The company had revenue of $164.88 million for the quarter, compared to analysts' expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. On average, analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Analyst Ratings Changes

RARE has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. HC Wainwright restated a "buy" rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report 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 note on Wednesday, February 26th. Piper Sandler cut their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. Finally, Wedbush reiterated a "neutral" rating and set a $48.00 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.79.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CAO Theodore Alan Huizenga sold 967 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 in the company, valued at approximately $2,116,156.50. This represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Howard Horn sold 1,785 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 106,169 shares in the company, valued at $4,289,227.60. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,643 shares of company stock valued at $5,256,268. 5.80% of the stock is currently owned by company 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.