Alkeon Capital Management LLC Sells 1,325,000 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Alkeon Capital Management LLC reduced its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 44.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,686,716 shares of the biopharmaceutical company's stock after selling 1,325,000 shares during the quarter. Alkeon Capital Management LLC owned 1.83% of Ultragenyx Pharmaceutical worth $70,960,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RARE. Wilmington Savings Fund Society FSB acquired a new position in Ultragenyx Pharmaceutical in the 3rd quarter worth $83,000. Principal Financial Group Inc. grew its stake in Ultragenyx Pharmaceutical by 740.0% during the 3rd quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company's stock valued at $4,802,000 after purchasing an additional 76,150 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Ultragenyx Pharmaceutical by 8.9% during the 4th quarter. Nordea Investment Management AB now owns 39,673 shares of the biopharmaceutical company's stock valued at $1,658,000 after buying an additional 3,246 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Ultragenyx Pharmaceutical by 1.4% in the fourth 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. Finally, KBC Group NV boosted its stake in Ultragenyx Pharmaceutical by 2,275.8% during the 4th quarter. KBC Group NV now owns 61,010 shares of the biopharmaceutical company's stock valued at $2,567,000 after acquiring an additional 58,442 shares during the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Price Performance

RARE traded down $3.81 on Tuesday, hitting $35.06. The company had a trading volume of 1,317,624 shares, compared to its average volume of 813,827. Ultragenyx Pharmaceutical Inc. has a 1-year low of $29.59 and a 1-year high of $60.37. The company's fifty day moving average price is $37.32 and its 200 day moving average price is $42.79. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of -5.53 and a beta of 0.34.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share for the quarter, topping the consensus estimate of ($1.58) by $0.01. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. During the same quarter in the previous year, the firm posted ($2.03) earnings per share. The firm's revenue was up 28.0% compared to the same quarter last year. On average, sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, EVP Karah Herdman Parschauer sold 2,990 shares of Ultragenyx Pharmaceutical stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $42.88, for a total value 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 trade represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Emil D. Kakkis sold 25,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.48, for a total transaction of $1,062,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,158,985 shares in the company, valued at $91,713,682.80. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,405 shares of company stock valued at $5,285,169 in the last ninety days. Insiders own 5.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RARE. Piper Sandler reduced their price target on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. JPMorgan Chase & Co. upped their price target on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. HC Wainwright reissued a "buy" rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Finally, Wedbush reaffirmed a "neutral" rating and set a $48.00 price objective (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of "Moderate Buy" and an average target price of $92.79.

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.