Knott David M Jr Purchases Shares of 48,000 Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Key Points

• Knott David M Jr invested approximately $1.74 million in Ultragenyx Pharmaceutical by acquiring 48,000 shares, which represents about 0.8% of his investment portfolio.
• Several institutional investors have increased their stakes in Ultragenyx, with notable increases including Vestal Point Capital LP and First Trust Advisors LP, indicating strong interest from large funds.
• Analysts have provided mixed ratings on Ultragenyx, with target prices ranging from $34 to $128, and a consensus rating of "Moderate Buy."

Knott David M Jr bought a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 48,000 shares of the biopharmaceutical company's stock, valued at approximately $1,738,000. Ultragenyx Pharmaceutical comprises about 0.8% of Knott David M Jr's portfolio, making the stock its 21st biggest holding. Knott David M Jr owned about 0.05% of Ultragenyx Pharmaceutical as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Federated Hermes Inc. lifted its holdings in Ultragenyx Pharmaceutical by 0.3% in the first quarter. Federated Hermes Inc. now owns 2,055,200 shares of the biopharmaceutical company's stock valued at $74,419,000 after buying an additional 5,400 shares during the period. Deutsche Bank AG lifted its position 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 buying an additional 8,385 shares during the period. Invesco Ltd. grew its position in Ultragenyx Pharmaceutical by 1.5% in the 4th quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company's stock worth $71,509,000 after purchasing an additional 25,487 shares during the period. Vestal Point Capital LP grew its position in Ultragenyx Pharmaceutical by 100.0% in the 4th quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company's stock worth $63,105,000 after purchasing an additional 750,000 shares during the period. Finally, Alyeska Investment Group L.P. grew its holdings in shares of Ultragenyx Pharmaceutical by 23.1% in 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. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ultragenyx Pharmaceutical

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

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock traded up $0.63 during midday trading on Friday, reaching $29.64. The stock had a trading volume of 700,146 shares, compared to its average volume of 1,293,363. 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 $2.86 billion, a P/E ratio of -5.36 and a beta of 0.25. The firm's fifty day simple moving average is $32.67 and its 200-day simple moving average is $36.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.27) by $0.10. The firm had revenue of $166.50 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.52) EPS. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RARE shares. Canaccord Genuity Group decreased 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. HC Wainwright raised Ultragenyx Pharmaceutical to a "buy" rating and set a $80.00 price target on the stock in a research note on Monday, July 28th. Guggenheim restated a "buy" rating and set a $64.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 20th. Wedbush cut their target price on Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a "neutral" rating for the company in a research note on Monday, July 14th. Finally, Wells Fargo & Company lowered their target price on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.