Millennium Management LLC Sells 13,453 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

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

A number of other large investors have also bought and sold shares of the company. Van ECK Associates Corp increased its position in Ultragenyx Pharmaceutical by 18.4% in the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company's stock worth $74,000 after buying an additional 273 shares during the last quarter. BOKF NA increased its position in Ultragenyx Pharmaceutical by 5.0% in the fourth quarter. BOKF NA now owns 7,976 shares of the biopharmaceutical company's stock worth $336,000 after buying an additional 382 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Ultragenyx Pharmaceutical by 259.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 493 shares during the last quarter. Arizona State Retirement System increased its position in Ultragenyx Pharmaceutical by 2.4% in the fourth quarter. Arizona State Retirement System now owns 24,038 shares of the biopharmaceutical company's stock worth $1,011,000 after buying an additional 568 shares during the last quarter. Finally, Guggenheim Capital LLC increased its position in Ultragenyx Pharmaceutical by 1.5% in the fourth quarter. Guggenheim Capital LLC now owns 45,222 shares of the biopharmaceutical company's stock worth $1,902,000 after buying an additional 670 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Ultragenyx Pharmaceutical Stock Up 0.4%

NASDAQ:RARE traded up $0.15 during trading hours on Friday, hitting $35.66. 441,516 shares of the company's stock traded hands, compared to its average volume of 826,659. The firm has a market cap of $3.37 billion, a P/E ratio of -5.62 and a beta of 0.34. Ultragenyx Pharmaceutical Inc. has a 52 week low of $29.59 and a 52 week high of $60.37. The business's fifty day simple moving average is $36.05 and its two-hundred day simple moving average is $41.18.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings data 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). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The business had revenue of $139.29 million for the quarter, compared to the consensus estimate of $145.98 million. During the same period in the prior year, the business posted ($2.03) EPS. Ultragenyx Pharmaceutical's quarterly revenue was up 28.0% on a year-over-year basis. On average, analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 2,990 shares of Ultragenyx Pharmaceutical stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $42.88, for a total transaction of $128,211.20. Following the completion of the sale, the executive vice president now owns 54,991 shares of the company's stock, valued at $2,358,014.08. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Emil D. Kakkis sold 25,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated 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 of the company's stock, valued at approximately $91,713,682.80. This trade represents a 1.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,405 shares of company stock valued at $5,285,169 over the last 90 days. Insiders own 5.50% of the company's stock.

Ultragenyx Pharmaceutical Company 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.