PDT Partners LLC Boosts Stock Position in Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• PDT Partners LLC increased its stake in Ultragenyx Pharmaceutical Inc. by 114.7% during the first quarter, owning 104,921 shares valued at approximately $3.8 million.
• Multiple institutional investors have also increased their holdings in Ultragenyx, with hedge funds and institutional investors now owning 97.67% of the company’s stock.
• Analyst reports have led to mixed adjustments in price targets for the stock, with an average rating of "Moderate Buy" and a target price of $81.50.

PDT Partners LLC grew its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 114.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,921 shares of the biopharmaceutical company's stock after acquiring an additional 56,062 shares during the quarter. PDT Partners LLC owned about 0.11% of Ultragenyx Pharmaceutical worth $3,799,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of RARE. Vestal Point Capital LP increased its holdings in shares of Ultragenyx Pharmaceutical by 100.0% during the fourth quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company's stock valued at $63,105,000 after acquiring an additional 750,000 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Ultragenyx Pharmaceutical by 28.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,218,942 shares of the biopharmaceutical company's stock valued at $116,559,000 after acquiring an additional 706,519 shares in the last quarter. Deep Track Capital LP bought a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at $27,493,000. Point72 Asset Management L.P. increased its holdings in shares of Ultragenyx Pharmaceutical by 81.0% during the fourth quarter. Point72 Asset Management L.P. now owns 1,182,877 shares of the biopharmaceutical company's stock valued at $49,764,000 after acquiring an additional 529,217 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Ultragenyx Pharmaceutical during the first quarter valued at $18,776,000. 97.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group reduced their price target on Ultragenyx Pharmaceutical from $136.00 to $128.00 and set a "buy" rating for the company in a report on Friday, August 8th. HC Wainwright upgraded Ultragenyx Pharmaceutical to a "buy" rating and set a $80.00 price objective for the company in a report on Monday, July 28th. William Blair started coverage on Ultragenyx Pharmaceutical in a report on Wednesday, May 28th. They issued an "outperform" rating and a $65.00 price objective for the company. Wedbush reduced their price objective on Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a "neutral" rating for the company in a report on Monday, July 14th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $105.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $81.50.

Insider Activity

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $37.39, for a total transaction of $89,922.95. Following the completion of the sale, the director directly owned 15,344 shares in the company, valued at $573,712.16. The trade was a 13.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Ultragenyx Pharmaceutical Stock Up 1.7%

Shares of Ultragenyx Pharmaceutical stock traded up $0.54 during trading hours on Friday, reaching $31.82. 1,325,362 shares of the stock traded hands, compared to its average volume of 1,310,061. The company has a 50 day moving average price of $30.40 and a 200 day moving average price of $34.86. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -5.75 and a beta of 0.21. Ultragenyx Pharmaceutical Inc. has a one year low of $25.81 and a one year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.27) by $0.10. The business had revenue of $166.50 million during the quarter, compared to the consensus estimate of $161.37 million. Ultragenyx Pharmaceutical had a negative return on equity of 237.48% and a negative net margin of 87.34%.The business's quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.52) EPS. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

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.