Two Sigma Investments LP Cuts Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Two Sigma Investments LP cut its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 18.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 614,948 shares of the biopharmaceutical company's stock after selling 140,735 shares during the quarter. Two Sigma Investments LP owned about 0.67% of Ultragenyx Pharmaceutical worth $25,871,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter worth about $40,463,000. Deep Track Capital LP acquired a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter worth about $27,493,000. Pictet Asset Management Holding SA increased its position in shares of Ultragenyx Pharmaceutical by 125.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company's stock worth $49,375,000 after purchasing an additional 653,088 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Ultragenyx Pharmaceutical by 81.0% during 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 increased its position in shares of Ultragenyx Pharmaceutical by 3,097.1% during 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. 97.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 1,785 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total value of $72,114.00. Following the completion of the sale, the chief financial officer now owns 106,169 shares in the company, valued at approximately $4,289,227.60. The trade was a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Theodore Alan Huizenga sold 967 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $40,710.70. Following the completion of the sale, the chief accounting officer now owns 50,265 shares of the company's stock, valued at approximately $2,116,156.50. This represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,405 shares of company stock worth $5,285,169 over the last 90 days. 5.50% of the stock is owned by insiders.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE traded up $0.28 during midday trading on Tuesday, hitting $35.94. The company had a trading volume of 143,617 shares, compared to its average volume of 870,340. The company's 50-day simple moving average is $35.97 and its 200-day simple moving average is $41.01. The firm has a market capitalization of $3.40 billion, a P/E ratio of -5.66 and a beta of 0.34. Ultragenyx Pharmaceutical Inc. has a 1 year low of $29.59 and a 1 year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.54) by ($0.03). The company had revenue of $139.29 million during the quarter, compared to analysts' expectations of $145.98 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The business's quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.03) EPS. Equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

RARE has been the subject of a number of recent analyst reports. HC Wainwright reissued a "buy" rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $118.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Canaccord Genuity Group lifted their target price 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. lifted their target price on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Finally, Piper Sandler dropped their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Ultragenyx Pharmaceutical has an average rating of "Moderate Buy" and a consensus target price of $90.93.

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.