Vestal Point Capital LP Buys 750,000 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Vestal Point Capital LP lifted its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 100.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,500,000 shares of the biopharmaceutical company's stock after buying an additional 750,000 shares during the quarter. Ultragenyx Pharmaceutical makes up 3.7% of Vestal Point Capital LP's holdings, making the stock its 5th largest position. Vestal Point Capital LP owned about 1.62% of Ultragenyx Pharmaceutical worth $63,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake in shares of Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 493 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter valued at about $35,000. Human Investing LLC purchased a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter valued at about $42,000. Van ECK Associates Corp increased its stake in shares of Ultragenyx Pharmaceutical by 18.4% in the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 273 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter valued at about $84,000. Hedge funds and other institutional investors own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Trading Up 0.4%

Ultragenyx Pharmaceutical stock traded up $0.15 during mid-day trading on Friday, hitting $35.66. The company's stock had a trading volume of 441,516 shares, compared to its average volume of 824,983. The firm has a market capitalization of $3.37 billion, a PE ratio of -5.62 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. The stock's fifty day moving average is $36.05 and its two-hundred day moving average is $41.24.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $139.29 million during the quarter, compared to analysts' expectations of $145.98 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The company's revenue was up 28.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($2.03) earnings per share. On average, equities analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 25,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.48, for a total transaction of $1,062,000.00. Following the transaction, the chief executive officer now directly owns 2,158,985 shares in the company, valued at $91,713,682.80. This represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Theodore Alan Huizenga sold 967 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $40,710.70. Following the transaction, the chief accounting officer now owns 50,265 shares in the company, valued at $2,116,156.50. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,405 shares of company stock worth $5,285,169. Company insiders own 5.50% of the company's stock.

Wall Street Analysts Forecast Growth

RARE has been the subject of several recent analyst reports. Canaccord Genuity Group lifted their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Piper Sandler cut their price objective on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, March 17th. JPMorgan Chase & Co. boosted their price objective on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Morgan Stanley boosted their price objective on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, HC Wainwright reiterated a "buy" rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $90.93.

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.