Pictet Asset Management Holding SA Trims Stock Holdings in Ultragenyx Pharmaceutical Inc. $RARE

Pictet Asset Management Holding SA lowered its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 15.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,231,331 shares of the biopharmaceutical company's stock after selling 226,856 shares during the quarter. Pictet Asset Management Holding SA owned about 1.28% of Ultragenyx Pharmaceutical worth $26,563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in RARE. UBS Group AG increased its holdings in Ultragenyx Pharmaceutical by 22.3% in the 4th quarter. UBS Group AG now owns 668,811 shares of the biopharmaceutical company's stock worth $15,383,000 after acquiring an additional 121,786 shares in the last quarter. Vanguard Group Inc. raised its stake in Ultragenyx Pharmaceutical by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 10,263,815 shares of the biopharmaceutical company's stock worth $236,068,000 after acquiring an additional 131,087 shares during the period. Teacher Retirement System of Texas lifted its holdings in Ultragenyx Pharmaceutical by 1,570.9% during the fourth quarter. Teacher Retirement System of Texas now owns 348,350 shares of the biopharmaceutical company's stock valued at $8,012,000 after purchasing an additional 327,502 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Ultragenyx Pharmaceutical by 7.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,240 shares of the biopharmaceutical company's stock valued at $650,000 after purchasing an additional 1,875 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ultragenyx Pharmaceutical by 25.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,688 shares of the biopharmaceutical company's stock worth $108,000 after purchasing an additional 962 shares during the period. 97.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RARE has been the subject of a number of analyst reports. Morgan Stanley increased their price objective on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. Wedbush reaffirmed a "neutral" rating and issued a $25.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, February 17th. JPMorgan Chase & Co. cut their price target on Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an "overweight" rating for the company in a research note on Thursday, March 12th. Guggenheim decreased their price target on Ultragenyx Pharmaceutical from $64.00 to $52.00 and set a "buy" rating on the stock in a report on Monday, January 5th. Finally, Wall Street Zen downgraded Ultragenyx Pharmaceutical from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $60.76.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE opened at $24.69 on Friday. The firm has a market cap of $2.43 billion, a P/E ratio of -4.23 and a beta of 0.25. Ultragenyx Pharmaceutical Inc. has a 1 year low of $18.29 and a 1 year high of $42.37. The company has a 50 day simple moving average of $22.50 and a two-hundred day simple moving average of $27.02.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Thursday, February 12th. The biopharmaceutical company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($1.20) by ($0.09). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 85.54%.The company had revenue of $207.28 million during the quarter, compared to analysts' expectations of $199.60 million. During the same period last year, the firm posted ($1.39) EPS. Ultragenyx Pharmaceutical's quarterly revenue was up 25.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -4.49 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Emil D. Kakkis sold 54,404 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $22.80, for a total transaction of $1,240,411.20. Following the completion of the transaction, the chief executive officer owned 658,994 shares in the company, valued at $15,025,063.20. This trade represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Karah Herdman Parschauer sold 8,135 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $22.80, for a total value of $185,478.00. Following the completion of the sale, the executive vice president directly owned 76,346 shares in the company, valued at $1,740,688.80. This trade represents a 9.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 109,556 shares of company stock worth $2,490,138 in the last 90 days. 5.20% of the stock is owned by company insiders.

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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