Assenagon Asset Management S.A. Acquires 947,865 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Assenagon Asset Management S.A. has significantly increased its stake in Ultragenyx Pharmaceutical Inc. by 439%, owning approximately 1.23% of the company with a stock position valued at $42.31 million.
• The stock price for Ultragenyx Pharmaceutical (NASDAQ: RARE) opened at $28.13, and the company reported a negative net margin of 87.34% along with a quarterly revenue increase of 13.2% compared to last year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Ultragenyx shares, with an average price target of $81.50, despite recent target price reductions from some brokerages.

Assenagon Asset Management S.A. grew its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 439.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,163,755 shares of the biopharmaceutical company's stock after buying an additional 947,865 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.23% of Ultragenyx Pharmaceutical worth $42,314,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of RARE. California State Teachers Retirement System raised its position in shares of Ultragenyx Pharmaceutical by 0.3% in the 4th quarter. California State Teachers Retirement System now owns 78,051 shares of the biopharmaceutical company's stock worth $3,284,000 after acquiring an additional 268 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Ultragenyx Pharmaceutical by 76.2% in the 1st quarter. GAMMA Investing LLC now owns 747 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 323 shares in the last quarter. Xponance Inc. raised its position in shares of Ultragenyx Pharmaceutical by 2.8% in the 1st quarter. Xponance Inc. now owns 12,552 shares of the biopharmaceutical company's stock worth $455,000 after acquiring an additional 347 shares in the last quarter. Oak Ridge Investments LLC raised its position in shares of Ultragenyx Pharmaceutical by 2.3% in the 1st quarter. Oak Ridge Investments LLC now owns 17,757 shares of the biopharmaceutical company's stock worth $643,000 after acquiring an additional 395 shares in the last quarter. Finally, GF Fund Management CO. LTD. raised its position in shares of Ultragenyx Pharmaceutical by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,364 shares of the biopharmaceutical company's stock worth $86,000 after acquiring an additional 425 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE traded up $1.34 during trading hours on Monday, hitting $29.47. The company's stock had a trading volume of 1,600,317 shares, compared to its average volume of 1,508,165. The business has a 50 day simple moving average of $28.98 and a two-hundred day simple moving average of $33.86. Ultragenyx Pharmaceutical Inc. has a 52-week low of $25.81 and a 52-week high of $59.50. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -5.33 and a beta of 0.21.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.17) EPS for the quarter, beating analysts' consensus estimates of ($1.27) by $0.10. Ultragenyx Pharmaceutical had a negative net margin of 87.34% and a negative return on equity of 237.48%. The firm had revenue of $166.50 million during the quarter, compared to analyst estimates of $161.37 million. During the same period in the previous year, the business earned ($1.52) EPS. The business's revenue for the quarter was up 13.2% on a year-over-year basis. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. Research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 2,450 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $31.17, for a total value of $76,366.50. Following the sale, the executive vice president owned 73,271 shares in the company, valued at approximately $2,283,857.07. This represents a 3.24% 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 this link. Company insiders own 5.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RARE. William Blair began coverage on Ultragenyx Pharmaceutical in a research note on Wednesday, May 28th. They issued an "outperform" rating and a $65.00 target price for the company. Guggenheim restated a "buy" rating and issued a $64.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, June 20th. Morgan Stanley reduced their target price on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating for the company in a research note on Monday, July 14th. Canaccord Genuity Group cut their price target on Ultragenyx Pharmaceutical from $136.00 to $128.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, Wells Fargo & Company cut their price target on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $81.50.

Ultragenyx Pharmaceutical 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.