Geode Capital Management LLC Trims Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Geode Capital Management LLC lessened its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 0.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,562,790 shares of the biopharmaceutical company's stock after selling 8,291 shares during the quarter. Geode Capital Management LLC owned approximately 1.69% of Ultragenyx Pharmaceutical worth $65,767,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its holdings in Ultragenyx Pharmaceutical by 18.4% in the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 273 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Ultragenyx Pharmaceutical by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company's stock valued at $928,000 after buying an additional 294 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 259.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 493 shares in the last quarter. M&T Bank Corp boosted its position in Ultragenyx Pharmaceutical by 8.1% during the third quarter. M&T Bank Corp now owns 6,992 shares of the biopharmaceutical company's stock worth $388,000 after acquiring an additional 525 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in Ultragenyx Pharmaceutical by 2.4% during the 4th quarter. Arizona State Retirement System now owns 24,038 shares of the biopharmaceutical company's stock valued at $1,011,000 after acquiring an additional 568 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CAO Theodore Alan Huizenga sold 967 shares of the company's stock in a transaction 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 sale, the chief accounting officer now owns 50,265 shares of the company's stock, 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, CEO Emil D. Kakkis sold 25,000 shares of the firm's stock in a transaction on 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 directly owns 2,158,985 shares of the company's stock, valued at $91,713,682.80. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,643 shares of company stock valued at $5,256,268 over the last three months. 5.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RARE shares. Canaccord Genuity Group boosted their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Wells Fargo & Company raised their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. HC Wainwright reissued a "buy" rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Cantor Fitzgerald restated an "overweight" rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased 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 research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $92.79.

Ultragenyx Pharmaceutical Stock Up 1.2 %

NASDAQ RARE traded up $0.42 during trading hours on Tuesday, hitting $35.34. 852,305 shares of the company were exchanged, compared to its average volume of 809,369. Ultragenyx Pharmaceutical Inc. has a 52-week low of $29.59 and a 52-week high of $60.37. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -5.57 and a beta of 0.61. The company has a 50 day moving average of $39.17 and a two-hundred day moving average of $44.67.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued 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). The company had revenue of $164.88 million during the quarter, compared to analyst estimates of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. On average, equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current 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.