Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Holdings Raised by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust lifted its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 340,975 shares of the biopharmaceutical company's stock after purchasing an additional 16,538 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.36% of Ultragenyx Pharmaceutical worth $12,347,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of RARE. Charles Schwab Investment Management Inc. raised its stake in shares of Ultragenyx Pharmaceutical by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 613,633 shares of the biopharmaceutical company's stock valued at $25,816,000 after purchasing an additional 19,112 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Ultragenyx Pharmaceutical by 2.4% during the fourth quarter. Arizona State Retirement System now owns 24,038 shares of the biopharmaceutical company's stock valued at $1,011,000 after purchasing an additional 568 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at about $916,000. AlphaQuest LLC raised its stake in shares of Ultragenyx Pharmaceutical by 280.7% during the fourth quarter. AlphaQuest LLC now owns 8,167 shares of the biopharmaceutical company's stock valued at $344,000 after purchasing an additional 6,022 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ultragenyx Pharmaceutical by 28.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,874 shares of the biopharmaceutical company's stock worth $962,000 after acquiring an additional 5,104 shares during the period. 97.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RARE has been the topic of a number of research analyst reports. William Blair initiated coverage on Ultragenyx Pharmaceutical in a report on Wednesday, May 28th. They set an "outperform" rating and a $65.00 target price on the stock. Morgan Stanley lifted their target price on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Wells Fargo & Company lowered their target price on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday. Piper Sandler dropped their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. Finally, Guggenheim reissued a "buy" rating and issued a $64.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, June 20th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $85.36.

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE opened at $29.51 on Friday. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $29.03 and a fifty-two week high of $60.37. The stock's 50-day moving average is $36.47 and its two-hundred day moving average is $38.78. The stock has a market cap of $2.79 billion, a PE ratio of -5.02 and a beta of 0.26.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($0.03). Ultragenyx Pharmaceutical had a negative net margin of 93.04% and a negative return on equity of 186.49%. The business had revenue of $139.29 million for the quarter, compared to analysts' expectations of $145.98 million. During the same period last year, the firm earned ($2.03) EPS. The company's revenue was up 28.0% compared to the same quarter last year. On average, equities research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Insider Activity

In other news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of Ultragenyx Pharmaceutical 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 3,167 shares of company stock worth $118,824. 5.50% of the stock is owned by insiders.

About Ultragenyx Pharmaceutical

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.

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