Great Lakes Advisors LLC Decreases Stock Holdings in Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Great Lakes Advisors LLC significantly reduced its holdings in Ultragenyx Pharmaceutical Inc., decreasing its ownership by 93% to just 13,311 shares, valued at approximately $482,000.
• Several other hedge funds have increased their stakes in Ultragenyx, with Price T Rowe Associates Inc. raising its investment by 28.1% and Adage Capital Partners GP L.L.C. increasing theirs by 81.6% in the same quarter.
• Analysts have mixed opinions on Ultragenyx's stock, with target price adjustments ranging from $34.00 to $136.00 and a consensus rating of "Moderate Buy" with an average target price of $81.50.

Great Lakes Advisors LLC decreased its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 93.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,311 shares of the biopharmaceutical company's stock after selling 177,818 shares during the quarter. Great Lakes Advisors LLC's holdings in Ultragenyx Pharmaceutical were worth $482,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in Ultragenyx Pharmaceutical by 28.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,218,942 shares of the biopharmaceutical company's stock valued at $116,559,000 after purchasing an additional 706,519 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Ultragenyx Pharmaceutical by 81.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 2,149,000 shares of the biopharmaceutical company's stock valued at $77,815,000 after purchasing an additional 965,919 shares in the last quarter. Federated Hermes Inc. raised its stake in Ultragenyx Pharmaceutical by 0.3% during the first quarter. Federated Hermes Inc. now owns 2,055,200 shares of the biopharmaceutical company's stock valued at $74,419,000 after purchasing an additional 5,400 shares in the last quarter. Deutsche Bank AG raised its stake in Ultragenyx Pharmaceutical by 0.5% during the first quarter. Deutsche Bank AG now owns 1,701,493 shares of the biopharmaceutical company's stock valued at $61,611,000 after purchasing an additional 8,385 shares in the last quarter. Finally, Vestal Point Capital LP raised its stake in Ultragenyx Pharmaceutical by 100.0% during the fourth quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company's stock valued at $63,105,000 after purchasing an additional 750,000 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company's stock.

Wall Street Analysts Forecast Growth

RARE has been the topic of several recent analyst reports. Wedbush reduced their target price on shares of Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a "neutral" rating on the stock in a research note 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 note on Friday, August 8th. Guggenheim reissued a "buy" rating and issued a $64.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, June 20th. Wells Fargo & Company reduced their target price on shares of Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Finally, HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $81.50.

Ultragenyx Pharmaceutical Trading Down 2.9%

NASDAQ RARE opened at $30.31 on Friday. The company's 50-day moving average price is $29.70 and its 200-day moving average price is $34.46. The stock has a market cap of $2.92 billion, a PE ratio of -5.48 and a beta of 0.21. Ultragenyx Pharmaceutical Inc. has a 12 month low of $25.81 and a 12 month high of $60.37.

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

Insider Transactions at Ultragenyx Pharmaceutical

In other news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $37.39, for a total value of $89,922.95. Following the transaction, the director directly owned 15,344 shares in the company, valued at approximately $573,712.16. This represents a 13.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Karah Herdman Parschauer sold 2,450 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $31.17, for a total transaction of $76,366.50. Following the transaction, the executive vice president owned 73,271 shares in the company, valued at approximately $2,283,857.07. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.