Northwestern Mutual Wealth Management Co. Has $4.63 Million Stock Position in Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Northwestern Mutual Wealth Management dramatically increased its Ultragenyx stake in Q4, ending with 201,149 shares valued at about $4.63 million.
• Company insiders sold shares recently, including CEO Emil D. Kakkis and EVP Erik Harris, with insiders selling a total of 117,262 shares over the last 90 days.
• Ultragenyx reported a wider-than-expected loss in its latest quarter, with EPS of -$1.84 versus estimates of -$1.49 and revenue of $136 million below forecasts; analysts currently have a Moderate Buy consensus rating.

Northwestern Mutual Wealth Management Co. raised its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 670,396.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 201,149 shares of the biopharmaceutical company's stock after acquiring an additional 201,119 shares during the period. Northwestern Mutual Wealth Management Co. owned about 0.21% of Ultragenyx Pharmaceutical worth $4,626,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Covestor Ltd raised its holdings in Ultragenyx Pharmaceutical by 26.0% in the 3rd quarter. Covestor Ltd now owns 1,787 shares of the biopharmaceutical company's stock valued at $54,000 after acquiring an additional 369 shares in the last quarter. Huntington National Bank raised its holdings in Ultragenyx Pharmaceutical by 56.2% in the 3rd quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 393 shares in the last quarter. Xponance Inc. raised its holdings in Ultragenyx Pharmaceutical by 3.1% in the 3rd quarter. Xponance Inc. now owns 13,494 shares of the biopharmaceutical company's stock valued at $406,000 after acquiring an additional 406 shares in the last quarter. Amalgamated Bank raised its holdings in Ultragenyx Pharmaceutical by 6.9% in the 3rd quarter. Amalgamated Bank now owns 7,226 shares of the biopharmaceutical company's stock valued at $217,000 after acquiring an additional 469 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Ultragenyx Pharmaceutical by 2.2% in the 3rd quarter. Arizona State Retirement System now owns 25,176 shares of the biopharmaceutical company's stock valued at $757,000 after acquiring an additional 533 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

Insiders Place Their Bets

In related news, EVP Erik Harris sold 10,539 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $22.80, for a total transaction of $240,289.20. Following the completion of the sale, the executive vice president directly owned 89,515 shares of the company's stock, valued at $2,040,942. This trade represents a 10.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Emil D. Kakkis sold 54,404 shares of the firm's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $22.80, for a total value of $1,240,411.20. Following the sale, the chief executive officer directly owned 658,994 shares of the company's stock, valued at $15,025,063.20. This represents a 7.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 117,262 shares of company stock worth $2,687,403 in the last 90 days. 5.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RARE has been the subject of several recent research reports. Canaccord Genuity Group cut their price target on Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a "buy" rating for the company in a report on Wednesday, February 18th. HC Wainwright cut their price target on Ultragenyx Pharmaceutical from $60.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, February 17th. Truist Financial raised Ultragenyx Pharmaceutical to a "strong-buy" rating in a report on Wednesday, March 25th. Wells Fargo & Company increased their target price on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group cut Ultragenyx Pharmaceutical from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $61.00 to $25.00 in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $59.88.

Ultragenyx Pharmaceutical Trading Down 1.3%

Shares of RARE opened at $23.39 on Friday. Ultragenyx Pharmaceutical Inc. has a 1 year low of $18.29 and a 1 year high of $42.37. The stock has a 50 day simple moving average of $23.22 and a 200-day simple moving average of $26.12. The stock has a market cap of $2.30 billion, a PE ratio of -3.83 and a beta of 0.39.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The company had revenue of $136.00 million during the quarter, compared to analyst estimates of $158.19 million. During the same period in the previous year, the company posted ($1.57) earnings per share. The company's quarterly revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -4.62 EPS for the current fiscal year.

Ultragenyx Pharmaceutical Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company's commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.

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