State of New Jersey Common Pension Fund D Reduces Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

State of New Jersey Common Pension Fund D lessened its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 28.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,769 shares of the biopharmaceutical company’s stock after selling 13,995 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Ultragenyx Pharmaceutical were worth $1,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 67.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 1,339 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Ultragenyx Pharmaceutical by 0.9% during the 1st quarter. Sei Investments Co. now owns 65,996 shares of the biopharmaceutical company’s stock valued at $3,081,000 after buying an additional 616 shares in the last quarter. US Bancorp DE lifted its stake in shares of Ultragenyx Pharmaceutical by 5.8% during the 1st quarter. US Bancorp DE now owns 7,143 shares of the biopharmaceutical company’s stock valued at $334,000 after buying an additional 390 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 8.7% during the 1st quarter. ProShare Advisors LLC now owns 6,074 shares of the biopharmaceutical company’s stock valued at $284,000 after buying an additional 486 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Ultragenyx Pharmaceutical by 2.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 87,673 shares of the biopharmaceutical company’s stock valued at $4,093,000 after buying an additional 2,104 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Trading Down 6.1 %

Shares of RARE stock opened at $44.75 on Monday. Ultragenyx Pharmaceutical Inc. has a twelve month low of $37.02 and a twelve month high of $60.37. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of -6.92 and a beta of 0.58. The company’s 50-day moving average price is $54.25 and its 200-day moving average price is $48.34.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.45) by $0.05. The company had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The firm’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.23) earnings per share. As a group, equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.21 EPS for the current year.

Insider Activity

In other news, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now owns 92,301 shares in the company, valued at approximately $4,869,800.76. The trade was a 7.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,556 shares of company stock valued at $1,515,967. 5.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. HC Wainwright lifted their price target on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Canaccord Genuity Group reiterated a “buy” rating and set a $121.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. Finally, TD Cowen boosted their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.69.

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.