Crestline Management LP Purchases New Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Crestline Management LP acquired a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 27,949 shares of the biopharmaceutical company's stock, valued at approximately $1,176,000.

Several other hedge funds have also made changes to their positions in the business. Van ECK Associates Corp boosted its holdings in shares of Ultragenyx Pharmaceutical by 18.4% during 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 during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Ultragenyx Pharmaceutical by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company's stock worth $928,000 after buying an additional 294 shares during the last quarter. BOKF NA boosted its stake in Ultragenyx Pharmaceutical by 5.0% in the 4th quarter. BOKF NA now owns 7,976 shares of the biopharmaceutical company's stock worth $336,000 after buying an additional 382 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 493 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Ultragenyx Pharmaceutical by 2.4% in the 4th quarter. Arizona State Retirement System now owns 24,038 shares of the biopharmaceutical company's stock worth $1,011,000 after buying an additional 568 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

Insider Activity

In other news, CFO Howard Horn sold 1,785 shares of Ultragenyx Pharmaceutical stock in a transaction dated 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 directly owns 106,169 shares of the company's stock, valued at approximately $4,289,227.60. The trade was a 1.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Theodore Alan Huizenga sold 967 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $40,710.70. Following the sale, the chief accounting officer now directly owns 50,265 shares in the company, valued at approximately $2,116,156.50. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,405 shares of company stock worth $5,285,169. 5.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RARE has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday. Piper Sandler decreased their price target on 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 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. Canaccord Genuity Group lifted their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Finally, HC Wainwright reiterated a "buy" rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of "Moderate Buy" and a consensus price target of $90.93.

Ultragenyx Pharmaceutical Trading Down 2.3%

Shares of RARE traded down $0.82 during midday trading on Friday, reaching $35.16. 1,136,694 shares of the company were exchanged, compared to its average volume of 825,828. The company has a market cap of $3.30 billion, a price-to-earnings ratio of -5.55 and a beta of 0.34. Ultragenyx Pharmaceutical Inc. has a 1-year low of $29.59 and a 1-year high of $60.37. The stock has a 50-day moving average price of $36.77 and a 200-day moving average price of $42.24.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.03). The company had revenue of $139.29 million for the quarter, compared to analysts' expectations of $145.98 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The business's quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.03) earnings per share. Equities research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

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.