Cutter Capital Management LP Acquires 120,000 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Cutter Capital Management LP increased its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 41.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406,803 shares of the biopharmaceutical company's stock after acquiring an additional 120,000 shares during the period. Ultragenyx Pharmaceutical makes up approximately 7.0% of Cutter Capital Management LP's investment portfolio, making the stock its 5th biggest position. Cutter Capital Management LP owned approximately 0.44% of Ultragenyx Pharmaceutical worth $17,114,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in shares of Ultragenyx Pharmaceutical by 259.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 493 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of Ultragenyx Pharmaceutical in the fourth quarter worth about $35,000. Human Investing LLC purchased a new position in shares of Ultragenyx Pharmaceutical in the fourth quarter worth approximately $42,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ultragenyx Pharmaceutical during the third quarter valued at approximately $83,000. Finally, Van ECK Associates Corp lifted its position in shares of Ultragenyx Pharmaceutical by 18.4% in the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company's stock valued at $74,000 after acquiring an additional 273 shares in the last quarter. Institutional investors own 97.67% of the company's stock.

Insider Activity

In other news, CFO Howard Horn sold 1,785 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $40.40, for a total value of $72,114.00. Following the sale, the chief financial officer now directly owns 106,169 shares in the company, valued at $4,289,227.60. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Emil D. Kakkis sold 25,000 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.48, for a total transaction of $1,062,000.00. Following the transaction, the chief executive officer now owns 2,158,985 shares of the company's stock, valued at $91,713,682.80. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,405 shares of company stock valued at $5,285,169 in the last ninety days. 5.50% of the stock is owned by insiders.

Ultragenyx Pharmaceutical Stock Performance

RARE traded down $0.82 during mid-day trading on Friday, reaching $35.16. The stock had a trading volume of 1,136,694 shares, compared to its average volume of 825,828. The firm's fifty day simple moving average is $36.77 and its two-hundred day simple moving average is $42.32. The stock has a market capitalization of $3.30 billion, a P/E ratio of -5.55 and a beta of 0.34. Ultragenyx Pharmaceutical Inc. has a 52 week low of $29.59 and a 52 week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued 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 business had revenue of $139.29 million for the quarter, compared to the consensus estimate 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 revenue was up 28.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.03) EPS. As a group, analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on RARE. HC Wainwright reiterated a "buy" rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. 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. Morgan Stanley upped their target price on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. 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 investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of "Moderate Buy" and an average price target of $90.93.

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.