Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Position Boosted by Rafferty Asset Management LLC

Rafferty Asset Management LLC lifted its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,293 shares of the biopharmaceutical company’s stock after purchasing an additional 2,892 shares during the period. Rafferty Asset Management LLC owned about 0.11% of Ultragenyx Pharmaceutical worth $4,261,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. grew its position in Ultragenyx Pharmaceutical by 81.0% in the fourth quarter. Point72 Asset Management L.P. now owns 1,182,877 shares of the biopharmaceutical company’s stock worth $49,764,000 after buying an additional 529,217 shares during the last quarter. Point72 Hong Kong Ltd boosted its stake in shares of Ultragenyx Pharmaceutical by 173.4% during the 4th quarter. Point72 Hong Kong Ltd now owns 27,399 shares of the biopharmaceutical company’s stock worth $1,153,000 after acquiring an additional 17,379 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter worth $211,000. MPM Bioimpact LLC raised its position in shares of Ultragenyx Pharmaceutical by 18.6% during the fourth quarter. MPM Bioimpact LLC now owns 391,018 shares of the biopharmaceutical company’s stock worth $16,450,000 after purchasing an additional 61,285 shares during the period. Finally, Hudson Bay Capital Management LP lifted its holdings in shares of Ultragenyx Pharmaceutical by 93.6% during the fourth quarter. Hudson Bay Capital Management LP now owns 377,500 shares of the biopharmaceutical company’s stock valued at $15,881,000 after purchasing an additional 182,500 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Thomas Richard Kassberg sold 6,028 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $253,778.80. Following the transaction, the executive vice president now owns 265,238 shares of the company’s stock, valued at approximately $11,166,519.80. This represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Howard Horn sold 1,785 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total value of $72,114.00. Following the completion of the sale, the chief financial officer now 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. Insiders sold 125,405 shares of company stock valued at $5,285,169 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock opened at $35.61 on Monday. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $29.59 and a fifty-two week high of $60.37. The stock’s 50-day moving average is $36.39 and its two-hundred day moving average is $41.64. The firm has a market cap of $3.37 billion, a P/E ratio of -5.62 and a beta of 0.34.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.03). The firm had revenue of $139.29 million during the quarter, compared to analyst estimates of $145.98 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The company’s quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.03) EPS. As a group, research analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler cut their price objective on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. Cantor Fitzgerald restated an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Canaccord Genuity Group raised their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lifted their price objective on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Finally, Morgan Stanley increased their target price on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, May 9th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.93.

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.