BNP Paribas Financial Markets Raises Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

BNP Paribas Financial Markets lifted its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 394.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 142,628 shares of the biopharmaceutical company's stock after purchasing an additional 113,797 shares during the period. BNP Paribas Financial Markets owned 0.15% of Ultragenyx Pharmaceutical worth $6,000,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its holdings in Ultragenyx Pharmaceutical by 259.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 493 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Ultragenyx Pharmaceutical in the fourth quarter valued at $35,000. Human Investing LLC acquired a new position in Ultragenyx Pharmaceutical in the fourth quarter valued at $42,000. Van ECK Associates Corp lifted 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 valued at $74,000 after buying an additional 273 shares during the period. Finally, Quarry LP acquired a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at about $84,000. Institutional investors and hedge funds own 97.67% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RARE. Morgan Stanley upped their price objective on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Piper Sandler decreased their target price on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. HC Wainwright reissued a "buy" rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Canaccord Genuity Group boosted their target price 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an "overweight" rating in a research 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $90.93.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 6,028 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were 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 of the company's stock, valued at $11,166,519.80. This trade represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Karah Herdman Parschauer sold 2,990 shares of the firm'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 approximately $2,358,014.08. This trade represents a 5.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,405 shares of company stock valued at $5,285,169. Insiders own 5.50% of the company's stock.

Ultragenyx Pharmaceutical Trading Up 2.2%

Shares of NASDAQ:RARE traded up $0.77 during trading on Friday, reaching $35.61. The company had a trading volume of 616,642 shares, compared to its average volume of 826,207. The company has a fifty day moving average of $36.39 and a two-hundred day moving average of $41.64. The stock has a market capitalization of $3.37 billion, a P/E ratio of -5.62 and a beta of 0.34. Ultragenyx Pharmaceutical Inc. has a 12 month low of $29.59 and a 12 month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released 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). 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 the consensus estimate of $145.98 million. During the same period in the prior year, the business posted ($2.03) EPS. Ultragenyx Pharmaceutical's revenue for the quarter was up 28.0% on a year-over-year basis. As a group, equities research analysts predict 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.