Wellington Management Group LLP Sells 1,707,881 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Wellington Management Group LLP trimmed its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 41.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,457,543 shares of the biopharmaceutical company's stock after selling 1,707,881 shares during the period. Wellington Management Group LLP owned about 2.66% of Ultragenyx Pharmaceutical worth $103,389,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Ultragenyx Pharmaceutical by 0.5% during the 3rd 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 buying an additional 947 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Ultragenyx Pharmaceutical by 129.3% in the third quarter. Captrust Financial Advisors now owns 11,428 shares of the biopharmaceutical company's stock valued at $635,000 after acquiring an additional 6,445 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in Ultragenyx Pharmaceutical during the third quarter worth about $338,000. Point72 Asset Management L.P. boosted its position in Ultragenyx Pharmaceutical by 35.9% during 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 last quarter. Finally, Point72 DIFC Ltd grew its stake in Ultragenyx Pharmaceutical by 443.9% in the third quarter. Point72 DIFC Ltd now owns 14,517 shares of the biopharmaceutical company's stock valued at $806,000 after purchasing an additional 11,848 shares in the last quarter. 97.67% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

RARE has been the topic of a number of analyst reports. Canaccord Genuity Group upped their price objective on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Wells Fargo & Company increased their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. Cantor Fitzgerald reissued an "overweight" rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Finally, Piper Sandler reduced their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of "Moderate Buy" and an average price target of $92.79.

Ultragenyx Pharmaceutical Price Performance

NASDAQ RARE traded up $1.05 on Tuesday, reaching $33.19. The stock had a trading volume of 280,381 shares, compared to its average volume of 793,295. The company has a market cap of $3.12 billion, a P/E ratio of -5.25 and a beta of 0.61. The firm has a fifty day moving average of $40.61 and a two-hundred day moving average of $45.75. Ultragenyx Pharmaceutical Inc. has a 1-year low of $30.46 and a 1-year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly 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 net margin of 101.60% and a negative return on equity of 193.80%. The business had revenue of $164.88 million during the quarter, compared to analyst estimates of $163.23 million. Research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 transaction of $72,114.00. Following the sale, the chief financial officer now owns 106,169 shares of the company's stock, valued at $4,289,227.60. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas Richard Kassberg sold 6,028 shares of the firm'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 $253,778.80. Following the transaction, the executive vice president now owns 265,238 shares in the company, valued at approximately $11,166,519.80. This trade represents a 2.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,643 shares of company stock worth $5,256,268 in the last quarter. Corporate insiders own 5.80% 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.