Great Lakes Advisors LLC Lowers 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 trimmed its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 93.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,311 shares of the biopharmaceutical company's stock after selling 177,818 shares during the period. Great Lakes Advisors LLC's holdings in Ultragenyx Pharmaceutical were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fred Alger Management LLC grew its holdings in Ultragenyx Pharmaceutical by 12.5% during the first quarter. Fred Alger Management LLC now owns 524,637 shares of the biopharmaceutical company's stock valued at $18,997,000 after purchasing an additional 58,372 shares during the period. Millennium Management LLC grew its holdings in Ultragenyx Pharmaceutical by 2.2% during the first quarter. Millennium Management LLC now owns 712,393 shares of the biopharmaceutical company's stock valued at $25,796,000 after purchasing an additional 15,157 shares during the period. Cubist Systematic Strategies LLC bought a new position in Ultragenyx Pharmaceutical during the first quarter valued at $4,400,000. Knott David M Jr bought a new position in Ultragenyx Pharmaceutical during the first quarter valued at $1,738,000. Finally, Squarepoint Ops LLC bought a new position in Ultragenyx Pharmaceutical during the fourth quarter valued at $3,702,000. 97.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 2,450 shares of the firm's 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 sale, the executive vice president owned 73,271 shares in the company, valued at $2,283,857.07. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the firm'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 sale, the director owned 15,344 shares in the company, valued at $573,712.16. The trade was a 13.55% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.50% of the company's stock.

Ultragenyx Pharmaceutical Stock Up 1.4%

Shares of RARE stock traded up $0.40 on Thursday, reaching $29.11. The company's stock had a trading volume of 1,675,604 shares, compared to its average volume of 1,364,954. Ultragenyx Pharmaceutical Inc. has a 12-month low of $25.81 and a 12-month high of $59.90. The company has a market capitalization of $2.81 billion, a P/E ratio of -5.26 and a beta of 0.21. The stock's 50 day simple moving average is $29.00 and its 200-day simple moving average is $34.10.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $105.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, September 5th. 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 report on Thursday, July 10th. William Blair assumed coverage on Ultragenyx Pharmaceutical in a report on Wednesday, May 28th. They issued an "outperform" rating and a $65.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, September 9th. Finally, 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 report on Friday, August 8th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average target price of $81.50.

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.