Deep Track Capital LP Takes Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Deep Track Capital LP bought a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 653,513 shares of the biopharmaceutical company's stock, valued at approximately $27,493,000. Deep Track Capital LP owned 0.71% of Ultragenyx Pharmaceutical at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Ultragenyx Pharmaceutical by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company's stock valued at $422,167,000 after buying an additional 89,389 shares during the period. Invesco Ltd. increased 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 valued at $71,509,000 after purchasing an additional 25,487 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of 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 purchasing an additional 81,667 shares during the period. Alyeska Investment Group L.P. boosted its holdings in Ultragenyx Pharmaceutical by 23.1% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company's stock worth $60,570,000 after buying an additional 269,733 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew 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 valued at $49,375,000 after buying an additional 653,088 shares during the period. 97.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Howard Horn sold 1,785 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $40.40, for a total value of $72,114.00. Following the transaction, the chief financial officer now directly owns 106,169 shares in the company, valued at $4,289,227.60. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Theodore Alan Huizenga sold 967 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $40,710.70. Following the completion of the sale, the chief accounting officer now owns 50,265 shares of the company's stock, valued at $2,116,156.50. This trade represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,405 shares of company stock valued at $5,285,169 in the last ninety days. 5.50% of the stock is currently owned by company insiders.

Ultragenyx Pharmaceutical Trading Down 2.3 %

Shares of NASDAQ RARE traded down $0.82 during mid-day trading on Friday, reaching $35.16. The company had a trading volume of 1,136,694 shares, compared to its average volume of 825,828. The firm has a 50 day simple moving average of $36.77 and a two-hundred day simple moving average of $42.32. Ultragenyx Pharmaceutical Inc. has a 52-week low of $29.59 and a 52-week high of $60.37. The stock has a market cap of $3.30 billion, a P/E ratio of -5.55 and a beta of 0.34.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing analysts' consensus estimates of ($1.54) by ($0.03). The firm had revenue of $139.29 million for the quarter, compared to analyst estimates of $145.98 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The firm's revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter last year, the firm posted ($2.03) EPS. On average, equities analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on RARE. Wedbush reissued a "neutral" rating and issued a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. HC Wainwright reissued a "buy" rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Canaccord Genuity Group raised their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Cantor Fitzgerald reiterated an "overweight" rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their target price on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company 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 issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.