Sherbrooke Park Advisers LLC Acquires New Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Sherbrooke Park Advisers LLC bought a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 10,387 shares of the biopharmaceutical company's stock, valued at approximately $437,000.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in Ultragenyx Pharmaceutical during the fourth quarter valued at $40,463,000. Deep Track Capital LP bought a new stake in Ultragenyx Pharmaceutical during the fourth quarter valued at $27,493,000. Pictet Asset Management Holding SA increased its stake in Ultragenyx Pharmaceutical by 125.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company's stock valued at $49,375,000 after purchasing an additional 653,088 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Ultragenyx Pharmaceutical by 81.0% in the 4th quarter. Point72 Asset Management L.P. now owns 1,182,877 shares of the biopharmaceutical company's stock worth $49,764,000 after purchasing an additional 529,217 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Ultragenyx Pharmaceutical by 3,097.1% in the 4th quarter. First Trust Advisors LP now owns 544,202 shares of the biopharmaceutical company's stock worth $22,894,000 after purchasing an additional 527,180 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RARE shares. Canaccord Genuity Group boosted their price objective on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price objective on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. HC Wainwright restated a "buy" rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research 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 on the stock in a report on Monday, March 17th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $90.93.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, EVP Karah Herdman Parschauer sold 2,990 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $42.88, for a total transaction of $128,211.20. Following the transaction, the executive vice president now directly owns 54,991 shares of the company's stock, valued at approximately $2,358,014.08. The trade was a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas Richard Kassberg sold 6,028 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $253,778.80. Following the transaction, the executive vice president now directly owns 265,238 shares in the company, valued at $11,166,519.80. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,405 shares of company stock valued at $5,285,169 over the last three months. Company insiders own 5.50% of the company's stock.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock traded up $1.16 during mid-day trading on Tuesday, hitting $37.35. 624,480 shares of the stock traded hands, compared to its average volume of 825,175. Ultragenyx Pharmaceutical Inc. has a twelve month low of $29.59 and a twelve month high of $60.37. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of -5.89 and a beta of 0.34. The company's 50-day simple moving average is $36.27 and its 200-day simple moving average is $41.50.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $145.98 million. During the same period in the previous year, the company posted ($2.03) earnings per share. Ultragenyx Pharmaceutical's revenue was up 28.0% compared to the same quarter last year. Analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current 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.