Motley Fool Asset Management LLC Grows Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Key Points

• Motley Fool Asset Management LLC increased its stake in Ultragenyx Pharmaceutical by 74.4% during the first quarter, owning 84,473 shares valued at about $3.06 million.
• Several institutional investors have also raised their stakes, with 97.67% of Ultragenyx's shares now owned by institutional players.
• Ultragenyx reported earnings of ($1.17) per share, which was better than expected, with quarterly revenue of $166.50 million, indicating a 13.2% increase compared to the prior year.

Motley Fool Asset Management LLC increased its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 74.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,473 shares of the biopharmaceutical company's stock after purchasing an additional 36,025 shares during the period. Motley Fool Asset Management LLC owned 0.09% of Ultragenyx Pharmaceutical worth $3,059,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Ultragenyx Pharmaceutical by 76.2% during the first quarter. GAMMA Investing LLC now owns 747 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 323 shares during the last quarter. ANTIPODES PARTNERS Ltd purchased a new position in Ultragenyx Pharmaceutical during the first quarter valued at $57,000. Headlands Technologies LLC bought a new stake in Ultragenyx Pharmaceutical in the 1st quarter valued at $59,000. Covestor Ltd lifted its stake in Ultragenyx Pharmaceutical by 86.8% in the 1st quarter. Covestor Ltd now owns 1,711 shares of the biopharmaceutical company's stock worth $62,000 after purchasing an additional 795 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at about $82,000. 97.67% of the stock is currently owned by institutional investors.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $37.39, for a total value of $89,922.95. Following the sale, the director directly owned 15,344 shares in the company, valued at approximately $573,712.16. This represents a 13.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. William Blair started coverage on Ultragenyx Pharmaceutical in a report on Wednesday, May 28th. They issued an "outperform" rating and a $65.00 target price on the stock. Wedbush reduced their price objective on Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a "neutral" rating on the stock in a research note on Monday, July 14th. Wells Fargo & Company lowered their target price on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. HC Wainwright raised shares of Ultragenyx Pharmaceutical to a "buy" rating and set a $80.00 target price for the company in a report on Monday, July 28th. Finally, Canaccord Genuity Group decreased their price target on shares of Ultragenyx Pharmaceutical from $136.00 to $128.00 and set a "buy" rating on the stock in a research note on Friday. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average target price of $81.50.

Ultragenyx Pharmaceutical Stock Up 2.6%

RARE traded up $0.72 during trading on Tuesday, reaching $28.11. The company had a trading volume of 1,128,461 shares, compared to its average volume of 2,487,268. The business has a 50 day simple moving average of $32.98 and a 200-day simple moving average of $36.50. The stock has a market cap of $2.71 billion, a P/E ratio of -5.08 and a beta of 0.25. Ultragenyx Pharmaceutical Inc. has a 52 week low of $25.81 and a 52 week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, beating the consensus estimate of ($1.27) by $0.10. Ultragenyx Pharmaceutical had a negative net margin of 87.34% and a negative return on equity of 237.48%. The business had revenue of $166.50 million for the quarter, compared to the consensus estimate of $161.37 million. During the same quarter in the prior year, the firm posted ($1.52) earnings per share. The business's revenue for the quarter was up 13.2% on a year-over-year basis. As a group, equities research analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

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.