Avidity Partners Management LP Has $14.81 Million Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Avidity Partners Management LP cut its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 53.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 352,000 shares of the biopharmaceutical company's stock after selling 400,000 shares during the quarter. Avidity Partners Management LP owned about 0.38% of Ultragenyx Pharmaceutical worth $14,809,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Ultragenyx Pharmaceutical by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company's stock valued at $422,167,000 after purchasing an additional 89,389 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Ultragenyx Pharmaceutical by 1.5% during the 4th quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company's stock worth $71,509,000 after buying an additional 25,487 shares during the period. Alliancebernstein L.P. grew its stake in Ultragenyx Pharmaceutical by 5.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company's stock valued at $68,487,000 after buying an additional 81,667 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in Ultragenyx Pharmaceutical by 23.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company's stock valued at $60,570,000 after acquiring an additional 269,733 shares during the period. Finally, Pictet Asset Management Holding SA lifted its position in Ultragenyx Pharmaceutical by 125.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company's stock worth $49,375,000 after acquiring an additional 653,088 shares during the last quarter. Institutional investors own 97.67% of the company's stock.

Insider Activity

In other news, CEO Emil D. Kakkis sold 73,434 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 transaction of $3,091,571.40. Following the sale, the chief executive officer now directly owns 641,731 shares of the company's stock, valued at approximately $27,016,875.10. This trade represents a 10.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thomas Richard Kassberg sold 6,028 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $253,778.80. Following the sale, the executive vice president now owns 265,238 shares in the company, valued at approximately $11,166,519.80. This trade represents a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,405 shares of company stock worth $5,285,169. Corporate insiders own 5.50% of the company's stock.

Ultragenyx Pharmaceutical Trading Down 4.7 %

NASDAQ RARE traded down $1.64 on Wednesday, hitting $33.42. 1,766,624 shares of the company's stock were exchanged, compared to its average volume of 817,524. Ultragenyx Pharmaceutical Inc. has a 52 week low of $29.59 and a 52 week high of $60.37. The stock has a 50-day moving average of $37.18 and a 200-day moving average of $42.74. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -5.27 and a beta of 0.34.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($0.03). The business had revenue of $139.29 million during the quarter, compared to analyst estimates 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 period last year, the business earned ($2.03) earnings per share. As a group, analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Piper Sandler dropped 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. Wedbush reissued a "neutral" rating and issued a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Canaccord Genuity Group raised their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a research report 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 note on Thursday, March 27th. Finally, HC Wainwright restated a "buy" rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $92.79.

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.