Point72 Hong Kong Ltd Grows Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Point72 Hong Kong Ltd grew its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 173.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,399 shares of the biopharmaceutical company’s stock after buying an additional 17,379 shares during the period. Point72 Hong Kong Ltd’s holdings in Ultragenyx Pharmaceutical were worth $1,153,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its position 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 purchasing an additional 493 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Ultragenyx Pharmaceutical in the fourth quarter worth $35,000. Human Investing LLC purchased a new stake in Ultragenyx Pharmaceutical in the fourth quarter worth $42,000. Van ECK Associates Corp raised its holdings in Ultragenyx Pharmaceutical by 18.4% in the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 273 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at $84,000. 97.67% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE opened at $34.84 on Friday. The business’s 50 day moving average price is $36.45 and its 200-day moving average price is $41.89. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $29.59 and a fifty-two week high of $60.37. The company has a market cap of $3.29 billion, a P/E ratio of -5.50 and a beta of 0.34.

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

Wall Street Analysts Forecast Growth

RARE has been the subject of several analyst reports. 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. HC Wainwright reissued a “buy” rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Morgan Stanley lifted their price objective on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Canaccord Genuity Group lifted their price objective on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. boosted their price target on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and an average price target of $90.93.

Insiders Place Their Bets

In related news, EVP Karah Herdman Parschauer sold 2,990 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $42.88, for a total transaction of $128,211.20. Following the completion of the sale, the executive vice president now directly owns 54,991 shares in the company, valued at $2,358,014.08. This represents a 5.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Theodore Alan Huizenga sold 967 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $40,710.70. Following the transaction, the chief accounting officer now directly owns 50,265 shares in the company, valued at $2,116,156.50. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,405 shares of company stock worth $5,285,169. 5.50% of the stock is currently owned by company insiders.

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.