Adage Capital Partners GP L.L.C. Trims Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Adage Capital Partners GP L.L.C. decreased its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 22.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,183,081 shares of the biopharmaceutical company's stock after selling 342,660 shares during the period. Adage Capital Partners GP L.L.C. owned 1.28% of Ultragenyx Pharmaceutical worth $49,772,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RARE. Syon Capital LLC bought a new position in Ultragenyx Pharmaceutical during the 4th quarter worth approximately $310,000. Dark Forest Capital Management LP acquired a new position in Ultragenyx Pharmaceutical in the fourth quarter valued at $459,000. Silverarc Capital Management LLC bought a new stake in Ultragenyx Pharmaceutical during the fourth quarter valued at $5,233,000. Hsbc Holdings PLC grew its holdings in Ultragenyx Pharmaceutical by 195.1% during the 4th quarter. Hsbc Holdings PLC now owns 47,516 shares of the biopharmaceutical company's stock worth $1,975,000 after acquiring an additional 31,416 shares during the period. Finally, Stifel Financial Corp raised its position in shares of Ultragenyx Pharmaceutical by 13.5% in the 4th quarter. Stifel Financial Corp now owns 23,796 shares of the biopharmaceutical company's stock worth $1,001,000 after acquiring an additional 2,835 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical Trading Up 1.2 %

Shares of RARE traded up $0.45 during trading hours on Friday, reaching $38.09. 575,372 shares of the stock traded hands, compared to its average volume of 818,321. The company has a market cap of $3.58 billion, a price-to-earnings ratio of -6.01 and a beta of 0.61. Ultragenyx Pharmaceutical Inc. has a 52 week low of $29.59 and a 52 week high of $60.37. The stock has a fifty day simple moving average of $37.79 and a 200 day simple moving average of $43.54.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $164.88 million for the quarter, compared to the consensus estimate of $163.23 million. Analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on RARE. Canaccord Genuity Group raised their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. 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. Wedbush reiterated a "neutral" rating and issued a $48.00 price objective (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. HC Wainwright reissued a "buy" rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $92.79.

Insider Buying and Selling

In related news, CEO Emil D. Kakkis sold 73,434 shares of Ultragenyx Pharmaceutical 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 $3,091,571.40. Following the sale, the chief executive officer now owns 641,731 shares of the company's stock, valued at approximately $27,016,875.10. The trade was a 10.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Howard Horn sold 1,785 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $40.40, for a total value of $72,114.00. Following the transaction, the chief financial officer now directly owns 106,169 shares of the company's stock, 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. Over the last 90 days, insiders sold 124,643 shares of company stock worth $5,256,268. Insiders own 5.50% of the company's stock.

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.