Prudential Financial Inc. Boosts Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Prudential Financial Inc. grew its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 659.5% during the fourth quarter, HoldingsChannel reports. The firm owned 272,940 shares of the biopharmaceutical company’s stock after purchasing an additional 237,003 shares during the quarter. Prudential Financial Inc.’s holdings in Ultragenyx Pharmaceutical were worth $11,483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Alkeon Capital Management LLC boosted its position in Ultragenyx Pharmaceutical by 34.3% during the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after acquiring an additional 769,884 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Ultragenyx Pharmaceutical by 123.4% during the third quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock valued at $54,872,000 after purchasing an additional 545,600 shares in the last quarter. Fisher Asset Management LLC purchased a new stake in Ultragenyx Pharmaceutical in the fourth quarter worth $11,156,000. Frazier Life Sciences Management L.P. raised its holdings in Ultragenyx Pharmaceutical by 49.1% in the third quarter. Frazier Life Sciences Management L.P. now owns 633,715 shares of the biopharmaceutical company’s stock worth $35,203,000 after purchasing an additional 208,715 shares in the last quarter. Finally, Ikarian Capital LLC purchased a new position in Ultragenyx Pharmaceutical during the third quarter valued at $9,943,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Trading Down 2.8 %

Shares of RARE stock opened at $37.82 on Friday. The stock has a market capitalization of $3.50 billion, a P/E ratio of -5.97 and a beta of 0.67. The firm’s 50 day moving average is $41.64 and its 200 day moving average is $46.90. Ultragenyx Pharmaceutical Inc. has a 12-month low of $36.71 and a 12-month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The firm had revenue of $164.88 million during the quarter, compared to analysts’ expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. As a group, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CAO Theodore Alan Huizenga sold 967 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $40,710.70. Following the sale, the chief accounting officer now owns 50,265 shares in the company, valued at approximately $2,116,156.50. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas Richard Kassberg sold 6,028 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $253,778.80. Following the completion of the transaction, the executive vice president now owns 265,238 shares of the company’s stock, valued at approximately $11,166,519.80. The trade was a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,370 shares of company stock worth $5,751,499 in the last three months. 5.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RARE. Piper Sandler dropped their price objective on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Wedbush reissued a “neutral” rating and issued a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. Canaccord Genuity Group lifted their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.79.

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.