Connor Clark & Lunn Investment Management Ltd. Raises Holdings in Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Connor Clark & Lunn Investment Management Ltd. boosted its stake in Ultragenyx Pharmaceutical by 66.2%, now holding 44,901 shares valued at approximately $1,626,000.
• Multiple institutional investors, including Vestal Point Capital LP and Point72 Asset Management, significantly increased their positions in Ultragenyx during the fourth quarter, contributing to institutional ownership of 97.67%.
• Ultragenyx reported a quarterly revenue of $166.50 million, surpassing expectations, with a negative EPS of ($1.17), yet showing a 13.2% revenue increase year-over-year.

Connor Clark & Lunn Investment Management Ltd. boosted its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 66.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,901 shares of the biopharmaceutical company's stock after purchasing an additional 17,885 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Ultragenyx Pharmaceutical were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Deep Track Capital LP bought a new stake in Ultragenyx Pharmaceutical in the fourth quarter worth about $27,493,000. First Light Asset Management LLC increased its position in shares of Ultragenyx Pharmaceutical by 1.1% during the fourth quarter. First Light Asset Management LLC now owns 763,607 shares of the biopharmaceutical company's stock worth $32,125,000 after acquiring an additional 8,505 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter worth approximately $459,000. Stifel Financial Corp increased its position in shares of Ultragenyx Pharmaceutical by 13.5% during the fourth quarter. Stifel Financial Corp now owns 23,796 shares of the biopharmaceutical company's stock worth $1,001,000 after acquiring an additional 2,835 shares during the period. Finally, Alyeska Investment Group L.P. increased its position in shares of 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 acquiring an additional 269,733 shares during the period. Institutional investors own 97.67% of the company's stock.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $37.39, for a total value of $89,922.95. Following the completion of the sale, the director owned 15,344 shares of the company's stock, valued at approximately $573,712.16. This trade represents a 13.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.50% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RARE shares. Morgan Stanley reduced their target price on shares of Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th. Canaccord Genuity Group reduced their target price on shares of Ultragenyx Pharmaceutical from $136.00 to $128.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Guggenheim reaffirmed a "buy" rating and set a $64.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 20th. William Blair began coverage on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, May 28th. They set an "outperform" rating and a $65.00 target price on the stock. Finally, HC Wainwright raised shares of Ultragenyx Pharmaceutical to a "buy" rating and set a $80.00 price objective for the company in a research note on Monday, July 28th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical presently has an average rating of "Moderate Buy" and a consensus target price of $81.50.

Ultragenyx Pharmaceutical Stock Up 0.5%

Shares of Ultragenyx Pharmaceutical stock traded up $0.16 on Thursday, reaching $29.52. The stock had a trading volume of 1,170,353 shares, compared to its average volume of 1,779,487. The company has a 50 day moving average price of $31.85 and a 200 day moving average price of $35.89. Ultragenyx Pharmaceutical Inc. has a 1 year low of $25.81 and a 1 year high of $60.37. The stock has a market capitalization of $2.84 billion, a P/E ratio of -5.34 and a beta of 0.25.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $166.50 million for the quarter, compared to analyst estimates of $161.37 million. During the same period in the previous year, the company earned ($1.52) earnings per share. 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. On average, analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

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.