Man Group plc Trims Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Man Group plc cut its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 9.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 297,394 shares of the biopharmaceutical company's stock after selling 29,809 shares during the period. Man Group plc owned about 0.32% of Ultragenyx Pharmaceutical worth $12,511,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 259.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 493 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter worth about $35,000. Human Investing LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at about $42,000. Van ECK Associates Corp grew its stake in shares of Ultragenyx Pharmaceutical by 18.4% in the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company's stock valued at $74,000 after buying an additional 273 shares in the last quarter. Finally, Quarry LP acquired a new position in Ultragenyx Pharmaceutical in the fourth quarter worth approximately $84,000. Institutional investors and hedge funds own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE traded up $1.16 during midday trading on Tuesday, hitting $37.35. The stock had a trading volume of 624,480 shares, compared to its average volume of 825,176. The company has a 50 day simple moving average of $36.27 and a two-hundred day simple moving average of $41.50. Ultragenyx Pharmaceutical Inc. has a twelve month low of $29.59 and a twelve month high of $60.37. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of -5.89 and a beta of 0.34.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing analysts' consensus estimates of ($1.54) by ($0.03). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The business had revenue of $139.29 million for the quarter, compared to analyst estimates of $145.98 million. During the same quarter in the prior year, the company earned ($2.03) earnings per share. The company's quarterly revenue was up 28.0% on a year-over-year basis. Analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Thomas Richard Kassberg sold 6,028 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $253,778.80. Following the transaction, the executive vice president now directly owns 265,238 shares of the company's stock, valued at approximately $11,166,519.80. The trade was a 2.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Howard Horn sold 1,785 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $40.40, for a total transaction of $72,114.00. Following the sale, the chief financial officer now owns 106,169 shares of the company's stock, valued at $4,289,227.60. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,405 shares of company stock valued at $5,285,169. 5.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RARE has been the topic of a number of recent research reports. Canaccord Genuity Group raised their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price target on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Morgan Stanley upped their price target on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. HC Wainwright reissued a "buy" rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Finally, Piper Sandler reduced their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, March 17th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $90.93.

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.