Millennium Management LLC Has $29.33 Million Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Millennium Management LLC lowered its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 697,236 shares of the biopharmaceutical company's stock after selling 13,453 shares during the quarter. Millennium Management LLC owned approximately 0.76% of Ultragenyx Pharmaceutical worth $29,333,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RARE. KBC Group NV increased its holdings in shares of Ultragenyx Pharmaceutical by 2,275.8% during the fourth quarter. KBC Group NV now owns 61,010 shares of the biopharmaceutical company's stock worth $2,567,000 after buying an additional 58,442 shares in the last quarter. R Squared Ltd acquired a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter worth approximately $103,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Ultragenyx Pharmaceutical by 10.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,580 shares of the biopharmaceutical company's stock worth $824,000 after acquiring an additional 1,854 shares in the last quarter. abrdn plc grew its position in Ultragenyx Pharmaceutical by 25.2% during the 4th quarter. abrdn plc now owns 317,125 shares of the biopharmaceutical company's stock worth $13,341,000 after acquiring an additional 63,821 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Ultragenyx Pharmaceutical by 18.4% during the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 273 shares in the last quarter. 97.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Canaccord Genuity Group lifted their price target on 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. increased their price objective on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Piper Sandler lowered their price objective on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. Finally, Morgan Stanley boosted their target price on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $90.93.

Ultragenyx Pharmaceutical Trading Up 0.3%

Shares of RARE traded up $0.10 on Thursday, reaching $35.51. 514,307 shares of the company's stock were exchanged, compared to its average volume of 824,254. The business has a 50 day moving average price of $36.20 and a two-hundred day moving average price of $41.46. Ultragenyx Pharmaceutical Inc. has a 12 month low of $29.59 and a 12 month high of $60.37. The stock has a market capitalization of $3.36 billion, a P/E ratio of -5.60 and a beta of 0.34.

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

Insider Transactions at Ultragenyx Pharmaceutical

In other news, EVP Karah Herdman Parschauer sold 2,990 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $42.88, for a total transaction of $128,211.20. Following the transaction, the executive vice president now directly owns 54,991 shares of the company's stock, valued at $2,358,014.08. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Emil D. Kakkis sold 25,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.48, for a total value of $1,062,000.00. Following the sale, the chief executive officer now directly owns 2,158,985 shares in the company, valued at $91,713,682.80. The trade was a 1.14% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,405 shares of company stock worth $5,285,169. 5.50% of the stock is currently owned by company insiders.

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.